100614 closed II MomentumClosed Session II (Momentum) October 6, 2014
At 7:52 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 Holmes, Frye, Kemp, Lanier and Haywood were present. Also present
were County Manager Richard Wells; Will Massie, Assistant County Manager/Finance Officer;
County Attorney Ben Morgan; Aimee Scotton, Associate County Attorney; Amanda Varner, Clerk to
the Board; Hal Johnson, Planning Director and Bonnie Renfro, Randolph County EDC President.
Bonnie Renfro, EDC President, informed the Board that a confidential client is seeking a site
ready location with the ability to serve within 18 months and ready skilled labor. The company said
it would locate suppliers nearby; some would be adjacent to the site and others within two hours.
The company projects 2000 jobs within four years at an average wage of $42,500/year. The
company is looking to invest $1 billion dollars within three years, which would be $300 million in
real property and $700 million in equipment. Ms. Renfro stated that the client has visited all three
industrial sites in North Carolina.
Ms. Renfro presented incentive proposal options based on a hypothetical project that was
discussed last fall; she used the information to submit a potential option in a response to Project
Momentum, which included a cash grant of $10 million from Randolph County as well as
performance based grants over an extended period of time.
Following a discussion, the Ms. Renfro said the company plans to have their board report
completed by October 23 and they wish to begin a formal site selection process in January 2015.
At 8:00 p.m., closed session ended on this topic.
J. Harold Holmes, Chairman Darrell L. Frye
Phil Kemp
Arnold Lanier
Stan Haywood
Amanda Varner, Clerk to the Board