Title:
Business Investment Grant: Columbus McKinnon Corporation
Summary
ACTION:
1) Open public hearing to receive comments on a proposed Business Investment Program grant to Columbus McKinnon Corporation;
2) Close public hearing; and
3) Adopt a resolution approving a Business Investment Program grant to Columbus McKinnon Corporation for a total amount not to exceed $62,234 and authorize the County Manager to negotiate and execute the contract
Staff Contact: Peter Zeiler, Director, Economic Development Office
Presentation: Yes
BACKGROUND/JUSTIFICATION:
Columbus McKinnon Corporation is a leading worldwide designer, manufacturer and marketer of motion control products, technologies, systems and services that efficiently and ergonomically move, lift, position and secure materials. Columbus McKinnon is headquartered in Buffalo, New York and has two facilities in North Carolina: Duff-Norton, located in Mecklenburg County, and North American Crane, located in Anson County.
Columbus McKinnon is seeking to establish a new state of the art research and development global headquarters which will employ engineering personnel resources and testing lab software, hardware and equipment and develop automation and control solutions for the global Columbus McKinnon Enterprise. The project is anticipated to create new technologies which will drive new sales and markets for the company.
Columbus McKinnon Corporation has announced its intent to locate the global research and development headquarters in Charlotte in leased office space and in the existing Duff Norton facility. Columbus McKinnon also considered expanding its current sites in New York and in Charleston, South Carolina.
Columbus McKinnon Corporation’s proposed headquarters project meets all the following grant guidelines for a five-year, 50% Business Investment Grant, specifically:
- A taxable investment of $3,140,000 to be completed in the next five years
- Cre...
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