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CABARRUS COUNTY <br />BOARD OF COMMISSIONERS <br />AGENDA ITEM REQUEST <br />Meeting Date 3/9/07 Agenda Item # <br />SUBJECT: <br />Industrial Development Incentive Grant -Carolina Tractor & Equipment <br />BRIEF SUMMARY: <br />Carolina Tractor is considering relocating its corporate headquarters to Cabarrus County. <br />This $6,500,000 facility would add roughly 50,000 new square feet and would be the first <br />phase of the relocation. Carolina Tractor, one of the oldest Caterpillar dealerships in the <br />United States, was founded in 1926 and has expanded its product lines to include forestry <br />and paving products, material handling equipment, engineered systems, truck engines and <br />power generation systems. Carolina Tractor currently employs over 600. <br />REQUESTED ACTION: (Suggested motion if the Board approves the agenda Item as presented) <br />Conduct public hearing to consider the incentive grant. Approve the incentive grant subject <br />to the negotiation and execution of a definitive agreement between Cabarrus County and <br />Carolina Tractor, as outlined in the Industrial Development Grant Program, with <br />authorization granted to the County Manager and County Attorney to conclude the <br />negotiations. <br />Attachments ^X Yes ^ No Expected Length of Presentation <br />Submitted By: Ryan McDaniels, Cabarrus EDC Date: 3/9/07 <br />Name /Job Title <br />Budget Amendment Required: ^ Yes ^X No <br />Budget Amendment Attached and Reviewed by Budget Officer: ^ Yes ^X No <br />County Manager's Recommendations/Comments: <br />This item was approved by the Board for inclusion on the Agenda as a New Business item. <br />Action Taken: <br />Approved [ ] Deferred ( ] <br />Denied [ ] Other [ ] <br />