2020-26 RESOLUTION - Economic Incentive Guidelines 12-7-2020

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Commissioners, the incentive would represent a threat to the survival of the pre-existing business. (Note- this guideline may be waived if the pre-existing business has previously received an economic incentive from a public sector jurisdiction.) This section would not apply to companies who compete outside of Lee County on a National or Worldwide basis. 4) The new business must create and maintain a minimum of 25 new jobs in Lee County to be considered for an incentive. The business will be required to maintain a contracted increase in the number of full-time employees for the duration of the incentive agreement period. Businesses will be required to show proof of job creation and be subject to random audits for verification. Existing businesses in Lee County will be required to maintain a specified number of full-time employees for the duration of the incentive agreement period. 5) Each job counted towards the incentive must be a full-time employee, defined as a person employed at 35 hours or more a week, with a salary or wage package that includes health benefits positions that are reported monthly by the company to state Employment Security. 6) A new business must create at least $20 million in new investment in the County to be considered for an incentive. An existing business must invest a minimum of $5 million to be considered for an incentive. Under either option, the investment must be verified as taxable property under North Carolina law and verified by the Lee County Tax Office. These levels of new investment must be sustained through the period of the economic incentive agreement. 7) Any Company receiving an incentive must commit to continue operations, without seasonal variations that cause its number of jobs to fall below required levels, for the duration of the incentive agreement period. 8) Economic incentives will not be paid in advance of business investment or job creation in Lee County. 9) The County will review requests for public infrastructure, which benefit the business and community in proximity of the proposed new industry location as an alternative to incentives. 10)All incentives shall be paid pursuant to a written incentive agreement between Lee County and the recipient business. Provisions shall be included in every incentive agreement to ensure the county, pursuant to NCGS 158-7.1(h), recaptures sums appropriated or expended by the county in the event the business fails to adhere to its job creation, investment, and continuous operations agreements at any time during the contract period. 11)Clawback provisions may include termination of the contract, proration of future incentive cash payouts, and/or repayment of incentives already issued to a business.