5-19-21 BOC Budget Work Session - Laserfiche WebLink

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VP *INF * * o (:M LEE COUNTY BOARD OF COMMISSIONERS BUDGET WORK SESSION DENNIS WICKER CIVIC CENTER CLASSROOMS 111-113 1801 NASH STREET SANFORD, NC 27330 May 19, 2021 MINUTES Roll Call Present: Arianna Lavallee, Robert Reives, Cameron Sharpe, Kirk Smith, Bill Carver, Mark Lovick Absent: Dr. Andre Knecht CALL TO ORDER Chairman Smith called the meeting to order at 4:00 p.m. BUDGET WORK SESSION DISCUSSION Sanford Area Growth Alliance - 4:00 p.m. Sanford Area Growth Alliance CEO Jimmy Randolph provided a brief overview of Sanford Area Growth Alliance's mission to expand and diversify the economic base of Lee County and raise the overall prosperity of a comprehensive economic development program. SAGA has a broad scope of work with key areas that contribute to a favorable climate for business success which is measured by capital investment and tax base expansion and more and better jobs. Pfizer, Caterpillar, Bharat Forge, Audentes, Through6, and Abzena are some of the projects that have occurred recently and reinforce the economic development success in Lee County. Announced benefits to Lee County include capital investment of$1,047,000,000, 1,759 new jobs, and $83 million announced in new annual payroll which contributes to the economy in ways beyond property taxes. SAGA's proposed contract is for$355,162.50 representing a 10% increase over the current year's allocation. The focus of the request is in two areas. First, wages, benefits, and training for staff and attracting and retaining talent. The other focus is information technology and marketing to keep up with the competition and resume in-person marketing trips. The plan is to resume the private sector campaign to maximize private investment. The goal for the private sector campaign is about $300,000 to be committed over a five-year period. There is limited inventory available from a product standpoint which would be another private engagement