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CABARRUS COUNTY <br />* <br />REGULAR MEETING <br />p T8 CARa jl r�� . . <br />� . 20 <br />��fiiffJfl /�� <br />1 P .M. <br />AGENDA CATEGORY: <br />New Business <br />SUBJECT: <br />EDC - Economic Development Grant Request & Public Hearing - 6:30 <br />P.M. <br />BRIEF SUMMARY: <br />Representatives from the Economic Development Corporation (EDC) will <br />present a request for an economic development grant for Corning, a local <br />glass manufacturer located in Midland. The company plans to expand its <br />current operation with an investment of $50 million. In addition, <br />approximately 70 new full -time jobs with an average job of $16 -20 per <br />hour will be created. The grant request (3 year, 85 percent) was <br />approved by the EDC board on March 27. In accordance with the <br />County's economic development program, a public hearing is required. <br />REQUESTED ACTION: <br />Hold a public hearing. <br />Consider a motion to approve an Economic Development Grant (3 year / <br />85 percent of ad valorem tax) for Corning based on a projected new net <br />investment of $50 million and creation of 70 new full -time jobs. <br />EXPECTED LENGTH OF PRESENTATION: <br />10 Minutes <br />SUBMITTED BY: <br />John Cox & Ryan McDaniels, Cabarrus Economic Development <br />BUDGET AMENDMENT REQUIRED: <br />No <br />G -1 Page 141 <br />