Holly Springs Town Council Agenda December 2024
Town Approves $11.5M Incentives for Amgen Expansion
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Description
The Town Council approved an amended Economic Development Agreement with Amgen Inc. that includes up to $11.49 million in incentives for Project Bengal, contingent on Amgen's $1.018 billion investment and creation of 370 jobs over six years.
Contract Details
Contract Amount
Up to $11,490,490 (six years of incentives at 50% of Incremental Town property taxes for Project Bengal)
Vendor
AMGEN INC
Agency
Town of Holly Springs, NC
Contract Type
OTHER
Document Date
December 17, 2024
Contract Term
6 years of Business Investment Grant payments (electable start no later than 2030)
Renewal Date
2036-12-31
Renewal Info
Amends 2022 EDA; BIG payments for 6 consecutive years starting at Amgen's election no later than 2030; milestone-based incentives. Additional infrastructure/utility obligations included.
More from AMGEN INC
Related Contracts
wake_county_board_of_commissioners_meeting_agenda.pdf
PENDINGaddendum_to_2023_affordability_review_summary_repo.pdf
ONGOINGwake-county-meeting-agenda-2025-01-06_d5e.pdf
PENDINGcentral-michigan-university-meeting-minutes-2023-06-29_959.pdf
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