c110110 II _Project FPE_Closed Session II (Project FPE) November 1, 2010
At 5:10 p.m., the Board, already in closed session on another matter, began discussion on a
different matter relating to the location or expansion of business in the area, pursuant to NCGS
143-318.11(a)(4). Commissioners Holmes, Frye, Kemp, Lanier and Haywood were present. Also
present were County Manager Richard Wells; Will Massie, Finance Officer; Darren Allen,
County Attorney; Aimee Scotton, Associate County Attorney; Cheryl Ivey, Clerk to the Board;
and Bonnie Renfro from Randolph County Economic Development Corporation (EDC).
Bonnie Renfro, EDC President, updated the Board on FPE's (Florida Production
Engineering) plans to relocate to part of the former Moll Industries facility north of Seagrove,
NC. The company would establish a new operation in one of three facilities and employ up to 96
of the displaced workers caused by Moll's bankruptcy and closure.
FPE is a division of Ernie Green Industries (EGI). Established in 1987, EGI is a full service
contract manufacturing company with six North American operations in Ohio, Michigan,
Canada, and Florida. EGI is a minority business entity with injection molding, finishing, metal
stamping and printing, and technical services. EGI customers are in automotive, medical,
aerospace, and consumer products. The company wishes to acquire machinery and equipment
from the liquidator that was the successful bidder for the Moll equipment holdings: Highland
Capital Equity firm, which would lease one of the buildings to EGI. EGI plans to purchase the
Moll facilities and site, contingent upon the success of the new Seagrove operation. Ms. Renfro
said that EGI has purchased many companies over the years and retained all of them in their
existing locations. Their intent will be a long-term successful operation in North Carolina.
Ms. Renfro said that Moll employed 109 at the time of the plant closing warning letter issued
August 13, 2010. Moll's final day of production was September 30, 2010. The liquidator plans
the strip the buildings of all removable infrastructure and all equipment if no buyer or tenant is
found immediately. FPE has requested any available assistance from state and local governments
to support the acquisition and expansion.
Ms. Renfro presented the proposed incentive:
State of NC $80,000 — One NC Fund Grant (requires local match)
Randolph County: $80,000 paid over 3 years based on job creation and investment
Year 1 -- $20,000; Year 2 -- $20,000; Year 3 -- $40,000
The consensus of the Board was to offer the proposed incentive to FPE in order to re-employ
the displaced workers from Moll and to insure that the former Moll facilities do not deteriorate
due to the unusability of the stripped buildings. The Board directed the Clerk to publish notice of
public hearing for 5:00 p.m. on November 16, 2010, to hear public comment on the project and
to consider the incentive following the public hearing.
At 5:22 p.m., closed session ended on this topic.
J. Harold Holmes, Chairman Darrell L. Frye
Phil Kemp
Arnold Lanier
Stan Haywood
Cheryl A. Ivey, Clerk to the Board