Laserfiche WebLink
<br /> <br />OILES AMERICA CORPORATION <br /> <br />Jerry K. Saunders <br />Sr. Executive for Economic Development <br />Economic Development Cabarrus County <br />3003 Dale Earnhardt Boulevard <br />Kannapolis, NC 28083 <br /> <br />October 10, 2006 <br /> <br />Dear Mr. Saunders and the Economic Development Committee: <br /> <br />Oiles America Corporation is requesting that the incentive grant between Cabarrus County <br />and Oiles America Corporation be extended to January 1, 2007 through 2010. Oiles America <br />Corporation has met all requirements of this incentive grant which are: a) new investment of <br />our plant expansion of $5,900,000 and, b) the creation of 20 new full time jobs. Actual jobs <br />created at the end of 2005 were 116 (28 new full time employees), of which 90% of all our <br />employees were hired from and live in Cabarrus County. As September 30, 2006 we have <br />117 jobs (29 new full time employees). We currently are in the process of hiring 8 more <br />openings to fill which we will hire locally from Cabarrus County as a direct result of our <br />expansion. Actual capital investment in Machinery & Equipment was $2,697,000 and <br />building $2,380,000 at the end of2005. <br />In construction we used 100% local contractors (Cabarrus County) for the building of <br />our plant expansion. There remains equipment to be installed but due to manufacture's delay, <br />these additions in the amount of$1,137,000 will be completed by the end of2006. <br />The City of Concord has already agreed to move the incentive period to 2007 through <br />2010 because of the delayed equipment. Installation of the sintering line is currently being <br />performed and we are on schedule to begin local raw material production before the end of <br />the fourth quarter. I have included pictures of our new line which will be the first of its kind <br />outside of Japan. It will allow us to produce our own raw materials as well as to sell our <br />materials worldwide. <br />Enclosed are copies of our PO's for the line in addition to pictures of our project <br />which is almost completed. We are very excited to be partners with the Economic <br />Development as we and Cabarrus County continue to grow and serve our community. If you <br />have any questions please fell free to contact me at (704) 784-4500 ext. 3171. <br /> <br /> <br /> <br />John annan <br />Accounting Manager <br />Oiles America Corporation <br /> <br />4510 Enterprise Drive N.W., Concord, NC 28027 <br />Phone: (704) 784-4500 Fax: (704) 784-4501 <br />Registered Quality System TS 16949 <br /> <br />(;-- \ <br />