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File #: ID 20-0086    Version: 1 Name:
Type: Resolution Status: Agenda Ready
File created: 1/13/2020 In control: City Council
On agenda: 1/16/2020 Final action:
Title: Resolution Authorizing an Economic Development Incentive to Syngenta Crop Protection, LLC in an Amount Not to Exceed $1,730,149
Attachments: 1. Syngenta SOS.pdf, 2. 20-0086 RES ED.pdf

Title
Resolution Authorizing an Economic Development Incentive to Syngenta Crop Protection, LLC in an Amount Not to Exceed $1,730,149
Body
Department: Executive
Council District: 1

Council Priority: Create an Environment to Promote Economic Development Opportunities and Job Creation

Public Hearing: January 16, 2020
Advertising Date/By: January 5, 2020/City Clerk

Contact 1 and Phone: David Parrish, 373-2002
Contact 2 and Phone: Kimberly Sowell, 373-2002

PURPOSE:
The City of Greensboro has been requested to consider an economic development incentive grant in an amount not to exceed $1,730,149 for the expansion in a new location in Greensboro and investment of at least $68,000,000, and the retention of 650 jobs. The grant is for the purposes of real property improvements, purchasing new equipment and furniture/fixtures.

BACKGROUND:
Syngenta Crop Protection, LLC is a US based agricultural company and subsidiary of a multinational enterprise focused on the research & development, production and sale of crop protection and seed products. The company was formed in 2000 through the merger of Novartis Agribusiness and Zeneca Agrochemicals. Syngenta AG is headquartered in Basel, Switzerland. Through the company's purpose "Bringing Plant Potential to Life", Syngenta is committed to providing farmers with innovative solutions to support agriculture and meeting the world's food demands.
Syngenta Crop Protection, LLC is evaluating the optimal new location for their operations currently located at 410 Swing Road in Greensboro. The company is considering options within the City of Greensboro within a designated Impact Zone.
The project will entail new investment of at least $68,000,000 in real property improvements, new equipment and furniture/fixtures. The company will retain 650 jobs with an average salary of $107,000 plus benefits in Greensboro. The project is expected to generate public benefit to the City of Greensboro by positively impacting th...

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