TITLE:title
One NC Grant Contracts for Briolf USA, LLC
body
INFORMATION CONTACT:
Rachael Holzman, Monroe-Union County Economic Development Commission, New Opportunities Manager, 704-282-5780
ACTION REQUESTED:
Authorize the County Manager to negotiate and execute agreements with Briolf USA, LLC and the State of North Carolina, substantially consistent with this agenda item.
PRIOR BOARD ACTIONS:
April 3, 2023, Regular Meeting, Agenda Item # 23-174 and # 23-175 - Conducted Public Hearing and approved award of Step-4 Magnet 50 Economic Development Incentive Grant.
BACKGROUND:
On April 3, 2023, the Board approved award of a Step-4 Magnet 50 Economic Development Incentive Grant to "Project Aero" in an amount not to exceed $1,175,000 paid over a 9-year period. This company referred to as "Project Aero" was Briolf USA, LLC (as publicly announced by Governor Cooper on June 6, 2024). Briolf USA, LLC, is a subsidiary of the Spain-based industrial group Briolf, which will be locating its first manufacturing center in the United States in Union County.
In addition to local incentives, Briolf USA, LLC has been awarded a OneNC Grant by the State of North Carolina in the amount of $150,000 to be paid over a grant period of 3 years, beginning June 6, 2024, and ending June 6, 2027. This is based on a target new job creation of 100 full-time jobs paying 110% of Union County's current average weekly wage and a target new investment of $30,523,756. It is required that 90 new jobs be created and there be $27,471,380 new investment at their new facility to receive the full grant amount under the OneNC Grant. Additional requirements are laid out in the attached contracts.
This grant was awarded and is paid pursuant to Part 2H of Article 10 of Chapter 143B of the North Carolina General Statutes. The grant is administered as a pass-through, with Union County having a contract with the State of North Carolina to receive the OneNC Grant funds (State dollars) to be paid to Briolf US...
Click here for full text