020617 II Project Maiden
Closed Session II – Project Maiden — February 6, 2017
At 8:22 p.m., already in closed session on another matter, began closed session on a
different matter relating to the location or expansion of business in the area, pursuant to
NCGS 143-318.11(a)(4). Commissioners Allen, Frye, Haywood, McDowell and Kidd were
present. Also present were County Manager Hal Johnson; Will Massie, Assistant County
Manager/Finance Officer; County Attorney Ben Morgan; Aimee Scotton, Associate County
Attorney; Amanda Varner, Clerk to the Board; Randolph County EDC Existing Industry and
Business Coordinator Kevin Franklin, and Randolph County EDC President Bonnie Renfro.
Randolph County EDC President Bonnie Renfro gave an overview of Project Maiden. She
said that Innotech, a private Japanese small parts manufacturer for automotive and farm
original equipment manufacturers (OEMs), is seeking a site for a new 250,000 square foot
facility for aluminum casting and metal processing. She said the West Randleman Business
Park is the only NC site under consideration but competitor sites are located in Ashland, KY;
Cherokee, GA; and Dublin, VA. Key drivers in this project are location, customized training,
quality workforce, utility cost and incentives. They are seeking a discounted land price plus
incentives.
Ms. Renfro said they are expecting a $15,925,000 total new investment over six years;
$4,300,000 investment in real property including facility construction and $11,625,000 in
machinery and equipment. The projected property tax revenue is $751,681 for Randolph
County and Randleman over six years. They anticipate 86 new jobs over five years with an
average wage of $37,125.
She suggested a performance based grant of $200,000 plus land cost discounted by 50% to
$10,000 per acre. She said this project is time sensitive and a decision visit is scheduled for
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February 8. She reviewed the competitor sites’ incentives.
Ms. Renfro is seeking guidance from the Board on whether the County would consider the
incentives to this company and a discounted land price for property in the West Randleman
Business Park where they are considering locating the new operation. She said the EDC
Board of Directors would continue to work with the City of Randleman and the County in
consideration of any support that may be requested, if the County wished to compete.
After discussion, the Board didn’t think the County could compete with the incentives the
other locations were offering.
At 8:39 p.m., closed session ended on this topic.
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David Allen, Chairman Darrell L. Frye
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Stan Haywood Kenny Kidd
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Maxton McDowell Amanda Varner, Clerk to the Board