AG 2004 01 26 - Laserfiche WebLink

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INCENTIVE ANALYSIS OVERVIEW (estimated) (Under Guidelines in place before January l, 2004) Company's Legal Name .................................. Stanley Logistics, Inc. a wholly owned subsidiary of Stanley Works of New Britain, CT Representative ............................ Mike Eggers, Distribution Controller Todd Dodson, Distribution Center Manager State of Incorporation ........................................................ Delaware Nature of Business ............................... Tools, Doors, and Hardware Current operations in Cabarrus County .............. 625,000 sf on Stanley Drive, Kannapolis Current Employment ................................................................. 289 Proposed new or additional Cabarrus facility Proposed Location ..................... Stanley Drive, Kannapolis Additional Square Feet ......................................... 300,000 Investment Real Estate ........................ $10,000,000 Equipment ......................... $ 2,800,000 Total Investment ................. $12,800,000 # of new full time jobs ......................... 50 @ $15.00 Average Total full time annual payroll ............................. $1,560,000 # of new contract labor jobs ............... 50 @ $11.53 Average Total contract labor annual payroll ............. $1,200,000 Total new payroll .............................................. $2,760,000 Kannapolis Incentive Level 1 Grant @ 75% ........................ $222,384.08 Cabarrus Incentive Level 1 Grant @75% ............................ $233,635.93 Total Incentive ............................................................... $456,020.01 Net to City ..................................................................... $116,815.92 Net to County ................................................................ $124,764.07 Total Net Tax Revenues .................................................. $241,579.99