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Public Hearing - Step 2 Economic Development Incentive Grant Request to Safe Fire Detection, Inc. (Project Smokey)
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INFORMATION CONTACT:
Ron Mahle, Economic Development, Director, 980-476-5279
ACTION REQUESTED:
Hold Public Hearing.
PRIOR BOARD ACTIONS:
None.
BACKGROUND:
The Union County Economic Development Department started conversations with Safe Fire Detection, Inc under codename Project Smokey in 2023 about the potential relocation of their manufacturing operation from Indian Trail, NC, to a 10-acre parcel located within the Piedmont Innovation Industrial Park off Goldmine Road or a 14-acre parcel located in the Monroe Corporate Center. The company is considering the purchase of either the 10-acre parcel or the 14-acre parcel, the construction of a 40,000 square foot manufacturing facility, and the purchase and installation of new production equipment. Total capital investment is approximately $10,000,000.
Safe Fire Detection, Inc. is a manufacturer of advanced fire detection systems for several key industry sectors including nuclear power, electric utilities, Petro-chemical, and space exploration. The company opened its doors in 1985 in Indian Trail. They have grown to employ 25 people, of whom 16 are Union County residents.
The company is at capacity at its current location and needs a building and land large enough to accommodate future business growth. The purchase of either parcel and the construction of a 40,000 SF facility would satisfy growth needs for years to come.
Based on the anticipated capital investment, it is proposed that the Board award a STEP 2 Economic Development Incentive Grant in an amount-not-to-exceed $141,000 paid over a 5-year period beginning in FY 2028. The value of the incentive grant will be based upon appraised value each year as appraised by the Union County Tax Administration Office. This grant is based on the company's projected investment of approximately $10,000,000 in land, new building con...
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