Laserfiche WebLink
STATE OF NORTH CAROLINA ) AGREEMENT REGARDING <br />INCENTIVE FUNDS FOR <br />COUNTY OF LEE 1 PROJECT JUPITER <br />THIS AGREEMENT, made and entered into this the 16th day of <br />December 2019 , by and between the COUNTY OF LEE, NORTH <br />CAROLINA, a body politic and corporate (hereinafter referred to as COUNTY) and <br />Pro'ect Ju iter a company with an office and place of business in Sanford, North <br />Carolina, (hereinafter referred to as COMPANY); <br />WITNESSETH: <br />WHEREAS, the Grant from the COUNTY to the COMPANY is in the amount of up to <br />$3,125,854.00 (three million, one hundred and twenty-five thousand, eight hundred and fifty- <br />four dollars) and has been negotiated and agreed to by the parties contingent upon the <br />COMPANY entering into this Agreement and formal approval of the Grant by the Lee County <br />Board of Commissioners; and, <br />WHEREAS, the Grant is to be used by the COMPANY toward the goal of creating at <br />least one hundred and ninety-six (196) new employees (hereinafter referred to as "New Jobs") at <br />an average annual wage of at least eighty-eight thousand nine hundred and three dollars <br />($88,903.00) and an estimated net new taxable investment in the amount of $126,000,000.00 <br />(one hundred and twenty-six million dollars) (hereinafter referred to as "taxable investment") in <br />connection with building renovations and the purchase of machinery and equipment in the <br />COMPANY'S manufacturing operations located in Lee County; and <br />WHEREAS, the Grant is necessary to enable the job creation and taxable investment by <br />the Company in Lee County to occur and go forward; and <br />WHEREAS, the Grant will stimulate local economic activity, promote business and <br />create a number of new jobs for the citizens of Lee County; and <br />WHEREAS, the Company will construct a gene therapy facility which will be located <br />within Lee County and which will significantly enhance the County's reputation as a desirable <br />location for similar and/or supporting companies to locate; and <br />WHEREAS, the Grant is issued pursuant and subject to the provisions of the Local <br />Development Act, North Carolina General Statute 158-7.1 through 7.4, including a public <br />hearing which was held on December 16, 2019; and <br />