Item:
Title
Budget Ordinance Amendment No. 19BCC000063 to Recognize $400,000 from North Carolina Biotechnology Center for Local Economic Development Awards
Body
Date of BOCC Meeting: June 10, 2019
Request for Board Action:
Agenda Text
The Board is requested to approve Budget Ordinance Amendment No. 19BCC000063 to recognize $400,000 from the North Carolina Biotechnology Center for Local Economic Development Awards (EDA) to be disbursed by the County. The funds are to be recognized by Durham County as the local unit of government and then awarded to Pairwise ($200,000), Locus Biosciences, Inc. ($100,000) and AveXis ($100,000). The NC Biotechnology Center has agreed to provide an economic development grant award though the County to incentivize companies to expand and maintain new business operations in Durham County while the disbursements of funds to the local government allows the County to maintain a direct relationship with the identified companies.
As part of their individual agreements Locus Biosciences will create and maintain at least thirty (30) new FTEs, Pairwise will create and maintain ninety (90) new FTEs and AveXis will create at least two hundred (200) new FTEs over a four (4) year period. Also included in their respective agreements are the following community benefits:
* AveXis will:
o Transfer equipment purchased with grant funds to Durham Tech's North Durham Campus for educational and training purposes
o Serve on the Advisory Board for Durham Tech's Biotechnology program
o Work with Durham Tech faculty to help them prepare students for potential jobs in the industry
* Pairwise will:
o Host four (4) DPS interns over the course of the four-year award
o Explore curriculum development opportunities and outreach with DPS educators to facilitate sessions with agricultural/food/nutrition focus
* Locus Biosciences will:
o Host three (3) high school interns over the course of the four-year award
Pairwise, using CRIPSR technology, will re...
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