Agenda 2-20-17 Reg. Meeting - Laserfiche WebLink

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01T SANFORD AREA GROWTH ALLIANCE Economic Development .Chatnber of commerce Visitor Servkes Well Centered_ Memorandum To: Jennifer Gamble, Clerk to the Board From: Joy Thrash, CEO, SAGA Date: February 8, 2017 Re: Information for Public Hearing for Project Panda Project Panda is a life sciences product manufacturing process which is considering a greenfield site location in Lee County. The company is also considering locations in Massachusetts as well as overseas. Over the next five years, the company will invest $100 million dollars in facilities and equipment. At completion, this project will employ 50 people. The average annual wage for these jobs will be $90,000. If the Lee County site is chosen, initial capital investment would begin in 2017. Facility construction would occur in January 2018. Hiring would also begin in early 2018. Operations would commence in January 2020. Due to the fast moving decision timeline for this project, SAGA is requesting that the Board of Commissioners hold a public hearing at their next meeting on February 20, 2017. SAGA will provide appropriate public notice in the Sanford Herald. SAGA is also requesting that the Board of Commissioners waive their normal policy of holding the public hearing and taking a vote on successive meetings. For this project, we are requesting that a vote on the local incentive investment be taken at the same meeting following the public hearing on February 20tH Attached to this memorandum is the Public Notice and the Schedule of Investment and Estimated Incentive Investment. Thank you for your consideration of this important economic development project for the future of our community.