To: The Honorable Mayor and Board of Commissioners From: Ryan McDaniels, Executive Director, LNEDC Subject: Economic Development Incentives
Consider decision on 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% 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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