To: The Honorable Mayor and Board of Commissioners From: Ryan McDaniels, Executive Director, LNEDC Subject: PH Economic Development Incentives
Conduct public hearing to receive comments on the proposed economic development incentives to Oerlikon Metro relating to their establishment of new manufacturing facility in Huntersville. The grant will be for a period of 10 years and up to 90 percent of new ad valorem tax revenue created by the development. There will be a public benefit from the incentive grant by the creation of 93 new jobs over a 5 year period paying an average of $93,011 annually and there will be an addition to the ad valorem tax base for the Town.
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