Title
Public Hearing for a Resolution Authorizing an Economic Development Incentive to United Parcel Service, Inc. in an Approximate Amount of $314,771.00
Body
Council Priority: Create an Environment to Promote Economic Development Opportunities and Job Creation
Department: Planning
Council District: 1
Public Hearing: Yes
Advertising Date/By: June 4, 2020, City Clerk
Contact 1 and Phone: David Parrish, 373-2002
Contact 2 and Phone: Kimberly Sowell, 373-7753
PURPOSE:
The City of Greensboro has been requested to consider an economic development incentive grant in an approximate amount of approximately $314,771.00 for United Parcel Service, Inc. (UPS). The grant is for the purposes of purchasing new machinery and equipment, and creating new jobs.
BACKGROUND:
Founded August 28, 1907, UPS is a package delivery company, which provides global package delivery and supply chain management services. UPS offers logistics services to the global market, which include transportation, distribution, forwarding, ground, ocean and air freight, brokerage and financing. The company has an existing presence in Greensboro at 3100 Flagstone Drive, in Council District 1. The company is considering select facilities for special upgrades including modernized conveyor equipment. These upgrades can occur at other facilities which have been designed to take pressure off of their main hubs, including: Myrtle Beach, SC; Nashville, TN; or Memphis, TN. The Greensboro hub is the fifth largest hub in the UPS network. According to UPS, it is common practice for the company to reroute sortation to facilities where it is more cost-effective.
The new investment will consist of approximately $54,206,000.00 in real property and personal property (machinery and equipment) and creation of up to 141 new jobs with an average wage of $65,147 per year and additional benefits. The project is expected to generate public benefit to the City of Greensboro by positively impacting the pro...
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