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G.-2. <br />CABARRUS COUNTY <br />BOARD <br />'-A♦HcAR♦��prr <br />n <br />November 19,2018 <br />• 1 P11 <br />AGENDA CATEGORY <br />New Business <br />SUBJECT: <br />Economic Development Investment - Project Jersey Hydro - Public Hearing 6:30 p.m. <br />BRIEF SUMMARY: <br />Representatives from the Cabarrus Economic Development Corporation (EDC) will present <br />a request for an economic development investment for Project Jersey Hydro pursuant to INC <br />General Statute 158.7.1. Project Jersey Hydro proposes to locate at 4715 Corporate Drive, <br />Suite 200 in Concord with a projected investment of approximately $1,000,000.00 - <br />$2,000,000.00 in real and personal property. The Project also plans to create 33 jobs with <br />average wages above our current County average wage. <br />REQUESTED ACTION: <br />Motion to approve an economic development agreement (5 years, 85 percent) between <br />Project Jersey Hydro and Cabarrus County, and to authorize the County Manager to execute <br />the Agreement on behalf of the Board, subject to review or revision by the County Attorney. <br />EXPECTED LENGTH OF PRESENTATION: <br />5 Minutes <br />SUBMITTED BY: <br />Samantha Grass, EDC <br />BUDGET AMENDMENT REQUIRED: <br />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 />Page 201 <br />