AG 2006 12 18 - Laserfiche WebLink

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r" STATE OF NORTH CAROLINA COUNTY OF CABARRUS INCENTIVE GRANT AGREEMENT (Oiles America Corporation) THIS AGREEMENT (the "Agreement"), is made and entered as of the day of , 2004, by and between CABARRUS COUNTY, a political subdivision of the state of North Carolina, with its principal place of business at 65 Church street SE, PO Box 707, Concord, North Carolina 28026-0707 ("County"), and OILES AMERICA CORPORATION ("OILES"), a Maryland corporation with its principal place of business at 44099 Plymouth Oaks Boulevard, Suite 109, Plymouth, Michigan,48170. RECITALS 1. Oiles is considering expanding its existing facility in the International Business Park in Concord, North Carolina (the "Ci ty") for an additional minimum aggregate 32,120 square feet wi th an aggregate new minimum taxable investment in such real property facilities of Two Million Seven Hundred Fi fty Thousand Dollars ($2,750,000). 2. In addition to construction of the expansion to the existing real property facility, Oiles intends to add substantial personal property to the above facility, including furniture, fixtures, machinery and equipment in an additional total minimum aggregate amount of Three Million 'One Hundred Fifty Thousand Dollars ($3,150,000. DO) . 3. Oiles has committed to the County and the City that the new real property and personal property investments in the City will be completed for a total aggregate minimum taxable investment of Five Million Nine Hundred Thousand Dollars ($5,900,000). 4. Oiles has committed to the County to provide a mlnlmum of 20 new full-time employment positions at the new expanded facility, bringing the total of full-time employees at the facility to a minimum of 100. 5. Oiles has received various proposals offering economic incenti ves to induce it to place the above-referenced new real property and personal property investments at other sites outside the city and the County. G-- \ --"---