2022 Annual Comprehensive Financial Report

with livable wages. During FY 2021-22, economic incentive award payments have supported The Fresh Market, Centric Brands, and Self-Help Venture. Investment funds for Self Help Ventures support the redevelopment of Revolution Mill that has created a capital investment of more than $82 million. In March 2018, City Council approved up to $20 million in incentives for Publix to develop a $400 million food processing and distribution center on the east side of Greensboro, creating 1,000 new jobs paying an average salary of $42,000. Construction is underway and expected to be completed by the end of 2022. In August 2021, City Council approved $1.8 million in economic incentive awards to Procter & Gamble Manufacturing Company to construct a manufacturing facility and create 46 new full-time jobs with an average annual salary of $62,609. This project is expected to generate approximately $110 million in capital investment. In January 2022, a $2.6 million economic incentive was awarded to Boom Technology, Inc. to construct its first manufacturing plant at Piedmont Triad International Airport (PTIA). Boom Supersonic is developing a sustainable, supersonic aircraft, Overture, capable of speeds twice as fast as today’s commercial airliners. The company plans to employ approximately 1,750 workers at an average annual salary above $60,000 and invest $500 million in the project by 2030. The project is expected to increase the State’s gross domestic product by $32 billion by 2035. • Public Safety - The Greensboro Police Department (GPD) remains focused on violent and property crime reductions through creative strategies that combine technology with innovative police initiatives, allowing the department to remain at the forefront of its profession. FY 2022-23 budget builds on the prior year’s priority of public safety identified by City Council. The budget includes a total of 24 new positions to

support public safety including 8 additional patrol officers, 15 fire positons for a new company to service annexed areas, and the addition of an End Gun Violence Coordinator in the City Manager’s Office. Council recently approved $1.2 million to support police headquarter and other police facility security improvements through funds made available by the American Rescue Plan Act. Starting salaries for fire and police sworn personnel will increase appropriately to remain competitive. The City also offers several one-time and on-going pay incentives to improve the quality of staff and improve recruitment and retention. With signing bonuses, military incentives, night-time shift differential, educational incentives, and bi-lingual pay, starting firefighters and police officers could make almost $10,000 in additional incentives in their first year. The FY 2022-23 budget includes contracted fire services related to annexations at approximately $600,000 for additional volunteer fire department support in recent and planned annexation areas in east and southeast Greensboro. The new company for the Fire Department also includes approximately $325,000 in equipment, turnout gear, and other related maintenance & operations costs. During FY 2021-22, the police take-home vehicle program was implemented with the addition of 20

patrol vehicles. Capital purchases, vehicle up fits, and on-going lease costs totaling $1.7 million are included for the continuation of the Police take-home car program. This will provide an additional 20 police vehicles to the police fleet for continuation of the program. City funding to support the efforts of the Cure Violence program continued in the current fiscal year and will continue again in FY 2022-23 at $500,000. The FY 2022-23 new position, an End Gun Violence Coordinator, will partner with the community and Cure Violence program in reducing crime and gun violence in our community. This position will report to the Assistant City Manager for Public Safety and will be dedicated to neighborhood safety and crime reduction. Continued support for the Crime Stoppers program for $75,000 is included for a total of $150,000 through FY 2022-23. Our 911 service is one of the best in the nation. The Department has won numerous awards and continues to perform exceptional service to our residents, especially those

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