Cabarrus Cheap Seats

Statement of Doubt: David Murdock has already started the project.  Why should we be funding it?  Isn’t it against the language of the TIF statutes to fund a project that would have gone on anyway?

Response: This is partially true.  The first phase of the project has started; but subsequent phases need the infrastructure improvements in the Tax-Increment Financing (TIF).  If the infrastructure improvements cannot be made - the project will have to be reconfigured and scaled back.  Here are some points to consider:

1. The TIF is for Infrastructure Improvements.  There is a fallacy that the Kannapolis City Council and the Cabarrus County Board of Commissioners will be handing David Murdock a big novelty check for $100 million for building the North Carolina Research Campus (NCRC).  Quite frankly, much of the TIF will be going to boring projects - intersection improvements, sewer lines, electrical improvements, etc.  It’s what will be done using that infrastructure that’s exciting.
2. A scaled-back project won’t have the same effect.  The long-term effect of the NCRC is not the jobs it brings in after it’s built, and it’s not the jobs that are created to support it.  It’s that the NCRC could be a hub of innovation to one of the world’s biotech centers…right here in Kannapolis.  I’m sure if I would have been talking about that 10 years ago - someone would be looking for a hydroponics lab in my basement.  The NCRC could become the cornerstone to building a 21st Century Kannapolis that attracts talent and capital from around the world - or it could just be a big lab.  The TIF makes all of the difference.
3. Eventually, some infrastructure improvements would have to be built.  If anyone should support the TIF - it should be people in places like Harrisburg, Midland, and Concord.  Why?  At any level - some infrastructure improvements will have be built.  Without the TIF the entire community (including the County) may have to foot the bill for that.  The TIF would force financing of infrastructure improvements to be paid for by the TIF District in Kannapolis - shielding the remainder of the County from that liability.  Without it - there’s no shield.  TIF is the most responsible way to make sure that the NCRC has the proper infrastructure to be an asset to the region without being a liability to the surrounding community.

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