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CABARRUS COU <br />BOARD OF COMMIS <br />REGULAR MEET <br />NOVEMBER 16, <br />6:30 P.M. <br />AGENDA CATEGORY: <br />New Business <br />SUBJECT: <br />EDC -Incentive Grant Request for SBM Solar, Inc. and Public Hearing - <br />6:30 P.M. <br />BRIEF SUMMARY: <br />SBM Solar, Inc., a manufacturer of an exclusive type of non-glass solar <br />panels, wants to expand its current operation in Cabarrus County. The <br />company plans to invest approximately $1.3 million in equipment and hire <br />approximately 16 new employees with an average wage of $40,000. <br />REQUESTED ACTION: <br />1. Hold a public hearing. <br />2. Consider a motion to approve an incentive grant (3-year, 85 percent) <br />for SBM Solar, InC., pursuant to the Economic Development Grant Program; and <br />authorize the County Manager and County Attorney to finalize the grant and execute <br />related documentation. <br />EXPECTED LENGTH OF PRESENTATION: <br />5 Minutes <br />SUBMITTED BY: <br />Anna Lu Wilson, Vice President of Business Services <br />Cabarrus Economic Development <br />BUDGET AMENDMENT REQUIRED: <br />No <br />G-1 Page 158 <br />