Title:
Public Hearing: Business Investment Grant: Dentsply North America, LLC
Summary
ACTION:
1) Open public hearing to receive comments on a proposed Business Investment Program grant to Dentsply North America, LLC (Dentsply);
2) Close public hearing; and
3) Adopt a resolution approving a Business Investment Program grant to Dentsply for a total estimated amount of $43,436 and authorize the
County Manager to negotiate and execute the contract
Staff Contact: Peter Zeiler, Director, Economic Development
Presentation: Yes
BACKGROUND/JUSTIFICATION:
• Dentsply Sirona is the world’s largest manufacturer of professional dental products and technologies. It manufactures a range of products such as x-ray machines and polishers to consumables such as tooth pastes and fluoride treatments
• Formed by a merger in 2016 of two companies, each more than 130 years old, Dentsply has more than 15,000 employees globally and is headquartered in York, PA
• The merged organization had $3.9 billion in sales in 2017 and is part of the S&P 500 and NASDAQ 100
As a result of the merger, Dentsply is seeking to establish a North American Regional Commercial Organization Center that will serve as the hub for:
o Sales
o Service
o Training
o Marketing
o Executive functions
• Approximately 100 jobs would be relocated from across North America and 220 jobs would be filled locally.
• Dentsply currently operates a state of the art 29,000 square foot training facility in Ballantyne with 113 employees.
Dentsply’s proposed project meets all Business Investment Program guidelines specifically:
• A taxable investment of $3 million.
• Creation of 320 new jobs with an average wage of $71,000.
• Expansion of existing operations in Mecklenburg County.
The Business Investment Program grant is a 50% grant over 5 years, with an estimated total amount of up to 43,436.
The general terms and condition of this grant include:
• A portion of the grant must be repaid if the company moves this investment from Charlotte within 5 years of the end of the grant term.
• Actual grant payments are based on the value of the investment as appraised by the Mecklenburg County Tax Office.
• All property taxes due from the company must be paid before a grant payment is made.
The Board of County Commissioners indicated their intent to approve this grant in a closed session on August 8, 2018.
A Public Hearing notice was published in the Charlotte Observer on February 23, 2019.
FUNDING:
Business Investment Grant Account; First payment is estimated to be paid in FY21.
PROCUREMENT BACKGROUND:
N/A
POLICY IMPACT:
N/A
FISCAL IMPACT:
N/A