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0 p,j~ 17 .<< 8`A <br />EXIT D <br />LEE COUNTY ECONOMIC DEVELOPMENT CORPORATION <br />FY 1997-98 <br />DESCRIPTION OF PROJECT AND INCENTIVES <br />1. The Project: Expansion of a manufacturing facility owned by Frontier <br />Spinning Mills on US Highway No. 421 North of Sanford in Lee County, <br />N.C. Frontier Spinning Mills will construct at least a 120,000 square foot <br />facility and will have an investment of at least $20,000,000.00 and will <br />employ at least 45 additional people. <br />2. The Incentive: Estimated cost of the financial incentives for the project <br />are: <br />Site preparation <br />County's share <br />$292,520.00 <br />$292,520.00 <br />This contract covers Lee County's share of the incentives described above. It is <br />anticipated that the cost will be paid out during the current fiscal year. <br />023 <br />8 <br />