c040207 I _Project Pamex_Closed Session I (Pamex) — April 2, 2007
At 5:34 p.m., the Board adjourned to closed session to discuss matters relating to the location or
expansion of business in the area, pursuant to NCGS 143-318.1l(a)(4). Commissioners Holmes, Frye,
Kemp, Lanier and Haywood were present. Also present were County Manager Richard Wells;
Assistant County Manager/Finance Officer Will Massie; County Attorney Alan Pugh; Aimee Scotton,
Associate County Attorney; Cheryl Ivey, Clerk to the Board; and Bonnie Renfro from Randolph
County Economic Development Corporation (EDC).
Bonnie Renfro told the Board about Project Pamex, which is a California-based distribution
company for specialized locks and hardware. The company is seeking a site in Archdale for an east
coast distribution center. Their first choice is a portion of the Swiggett site on Surrett Drive in
Archdale. The parent company is based in Taiwan and all manufacturing is done in Asia. They plan a
$3.5 million Phase 1 and $3.3 million Phase 2 investment for existing building expansion, with
$400,000 in equipment investment. They propose 25 new jobs.
The company is requesting assistance in relocation of a 12 -inch public water line located within the
site to allow site development to proceed. Jamestown Engineering has estimated the cost at $60,000.
They also are requesting the extension of sewer service from the intersection at Sealy Drive to the
property line to serve the proposed facility.
Ms. Renfro projects $21,400 (Randolph County) and $10,400 (Archdale) in annual new tax
revenues on the $4 million investment. She suggested that the County and Archdale participate equally
($30,000 each) in an incentives proposal. Ms. Renfro said that she had already met with the Archdale
City Council, which gave its support for this project.
After discussion, the Board's consensus was to participate in the project at $30,000.
Closed session on this topic ended at 5:50 p.m.
J. Harold Holmes, Chairman Darrell L. Frye
Phil Kemp
Arnold Lanier
Stan Haywood
Cheryl A. Ivey, Clerk to the Board