c010906IClosed Session I (Project Momentum) — January 9, 2006
At 6:00 p.m. the Board adjourned to closed session to discuss matters relating to the location of
expansion of business in the area, pursuant to NCGS 143-318.1l(a)(4). Commissioners Holmes, Kemp,
Frye, Lanier, and Davis were present, as well as County Manager Frank Willis; Alice Dawson, Clerk to
the Board; Cheryl Ivey, Deputy Clerk; Alan Pugh, County Attorney; Aimee Scotton, Associate County
Attorney; Richard Wells, County Manager in Transition; Will Massie, Assistant County Manager; and
Bonnie Renfro and Harry Lane from the Randolph County Economic Development Corporation.
Bonnie Renfro said that Bridgestone Aviation (Project Momentum) is seeking an existing shell
building for a new production operation and has short-listed the Liberty shell building as well as other
sites in North Carolina, Tennessee, and South Carolina. This Japanese -owned company produces tires
for aircraft and is heavily regulated by the FAA. The company projects a $12.5 million real property and
$15-20 million machinery & equipment investment. One hundred new jobs are projected with the
following wage breakdown: 35 jobs @ $16-$21+ per hour and 65 jobs @ $14 per hour. A decision on
the site location is projected for early spring 2006 with partial production beginning December 2006 and
full production by June 2007.
Ms. Renfro suggested the following incentive proposal:
$350,000 Randolph County over 3 years
$350,000 Town of Liberty over 3 years
$ 85,000 Randolph County EDC (forego land cost owed on building)
$200,000 One NC Fund
The Board directed Ms. Renfro to proceed with the recruitment of this company for the Liberty
shell building.
Closed session on this topic ended at 6:25 p.m.
J. Harold Holmes, Chairman
Phil Kemp
Arnold Lanier
Darrell L. Frye
Robert B. Davis
Cheryl A. Ivey, Deputy Clerk