030617 I Project MightyClosed Session I – Project Mighty— March 6, 2017
At 8:12 p.m., the Board convened closed session on a matter relating to the location or
expansion of business in the area, pursuant to NCGS 143-318.11(a)(4). Commissioners
Allen, Frye, Haywood, McDowell and Kidd were present. Also present were County
Manager Hal Johnson; County Attorney Ben Morgan; Aimee Scotton, Associate County
Attorney; Amanda Varner, Clerk to the Board; and Randolph County EDC President
Bonnie Renfro.
MAS International is considering the acquisition of the manufacturing and distribution
operations of Acme McCrary and forming a new company to operate it. Randolph County
EDC President Bonnie Renfro reminded the Board that this project is being considered for
a $575,000 One NC Fund grant from the State. The grant program requires a local
government match from Asheboro and Randolph County totaling 50% of the grant or
$287,500.
She has received updated information on Project Mighty, as follows:
• Investment of $3,283,536 in real property, $16,671,221 in machinery and
equipment ($19,954,757 over four years)
• 288 new jobs with 277 being retained in Asheboro
• Average wage of $30,637 does meet the program wage requirement for 133 jobs
created within four years
Based on projected new property tax revenues from this project, the County would
receive $306,119 over a four-year period. Based on capital investment, the 133 new jobs,
and the retention of the current job base, Ms. Renfro recommended consideration of a
$150,000 performance based grant to be paid out over that four-year period.
Ms. Renfro said that Acme would be informing their employees of the plans during an
employee meeting on Wednesday, March 8th. They wanted to assure them of their jobs
prior to the public hearing notice that will be published in the paper on Thursday, March
9th.
At 8:24 p.m., closed session ended on this topic.
David Allen, Chairman
Stan Haywood
Maxton McDowell
Darrell L. Frye
Kenny Kidd
Amanda Varner, Clerk to the Board