Laserfiche WebLink
INCENTIVE GRANT AGREEMENT <br /> <br />This Agreement (the "Agreement"), made and entered as of the~ <br /> <br />DRAFT <br />11-21-03 <br /> <br />day of <br /> <br /> ,20032004, by and between CABARRUS COUNTY (the "County"), a body politic <br />and political subdivision of the State of North Carolina, and Philip Morris USA Inc. ("Philip <br />Morris"), a Virginia corporation. <br /> <br /> WHEREAS, Philip Morris is considering plans to improve its facility in Cabarrus <br />County, N.C. (the "Facility") by placing new manufacturing equipment therein (the "New <br />Personal Property"); and <br /> <br /> WHEREAS, the New Personal Property will be added to the Facility over a multiple <br />year period at an estimated original cost, net of the value of replaced equipment, of <br />approximately One Hundred Twenty-Four Million Five Hundred Fifty-Two Thousand <br />Dollars ($124,552,000.00); and <br /> <br /> WHEREAS, Philip Morris has received various proposals offering economic <br />incentives to induce it to place or replace the New Personal Property at other sites outside <br />the County; and <br /> <br /> WHEREAS, the County has pre. viously adopted an Industrial Development <br />Incentive Grant Program (the "Program"), a copy of which is attached hereto marked <br /> <br /> <br />