c020711 II _Project Green Line-Tech_Closed Session II (Project Green Line - Technimark) February 7, 2011
At 6:22 p.m., the Board, 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 Holmes, Frye, Kemp, Lanier and Haywood were
present. Also present were County Manager Richard Wells; Will Massie, Finance Officer; Ben
Morgan, County Attorney; Aimee Scotton, Associate County Attorney; Amanda Varner,
Deputy Clerk to the Board; and Bonnie Renfro and Harry Lane from Randolph County
Economic Development Corporation.
Bonnie Renfro, EDC President, said that Technimark has experienced growth and projects
a 60% growth in revenues in 2011. During 2009-2010, the company added 55-60 new jobs,
80,000 square feet of additional space, and invested $8 million.
Ms. Renfro updated the Board on a planned new wash line at Wellmark, which is a division
of Technimark. This new line will increase recycled product and reduce solid waste. This
expansion project has a projected capital investment of $15-$20 million. Ms. Renfro said that
the company has requested any available assistance and has been notified of a Recycling
Business Assistance Grant opportunity. Ms. Renfro also mentioned that the EDC has assisted
Technimark in securing a lease from Norfolk Southern for additional rail spur capacity needed
to achieve the increased production.
The company is also considering investment in new equipment to reduce energy usage in
production and is exploring tax credit opportunities for this program.
Technimark is also evaluating the feasibility of the construction of a new technology and
training center on its Asheboro campus with an estimated investment of $1,350,000-
$1,670,000. The facility would be 13,000 square feet and would centralize product innovation,
engineering and design work in Asheboro. The project could result in 30 new high -wage
engineering jobs at an average wage of $58,333. This project is contingent upon local and state
assistance. The alternate plan to constructing the new facility is to decentralize the same
function worldwide and set up at individual operation locations. However, Ms. Renfro stated
that this part of the project is on hold, due to the current economic situation.
Ms. Renfro stated that she is presenting these plans to the Board at this time in order to
gauge their interest in providing any type of incentive. She suggested a possible $30,000
performance-based grant as the 30 new jobs are created. She also said that if a grant from the
County is approved at some point, she suggested that it be set up to be paid to the Randolph
Development Corp., whereby the Economic Development Corp. would, in turn, administer the
funds. Ms. Renfro also stated that a public hearing would need to be held prior to approval of
the grant.
She said that she would report back at a later time with more information.
Closed session on this topic ended at 6:28 p.m.
J. Harold Holmes, Chairman Darrell L. Frye
Phil Kemp
Arnold Lanier
Stan Haywood
Amanda Varner, Deputy Clerk to the Board