What do Charlotte’s Bank of America Stadium, Fujifilm, VinFast and Wolfspeed all have in common?
The legal work on these massive N.C. economic development projects was overseen by one man: Bob Hagemann.
Hagemann, an attorney at Poyner Spruill in Raleigh, is now in his third year as the attorney for Chatham County’s governmental operations, and in that short span, he’s already made a huge impact — playing an instrumental role in bringing more than $9 billion and 9,000 jobs in economic development to the county this year and helping set the stage for decades of growth and change.
His peers would describe him as laid-back, humble. The kind of guy you’d enjoying catching up with over a glass of wine. But underneath Hagemann’s easygoing exterior is someone who knows how to get the job done, and whose skilled approach to the tasks at hand earned him the nickname — assigned by Michael Smith, the director of Chatham’s economic development office — “Billion-Dollar Bob.”
For Hagemann, coming to work in Chatham was a full-circle moment. As a UNC grad and Chapel Hill native, he says he’s always loved this part of the state and always planned to come back. In fact, when he was living in Chapel Hill three decades ago, the county line went through Hagemann’s property; it’s safe to say he’s always been part of this community.
But after 24 years as Charlotte’s city attorney, Hagemann decided, in 2019, it was time to make the move back home. He said he jumped at the opportunity when he was offered the role as Chatham County attorney.
“What I like most at a practice is being part of a team,” Hagemann said. “Spending close to half my time with Chatham gives me exactly that. It’s just a lot of fun and obviously, there’s amazing things happening here.”
Karen Howard, the chairperson of the Chatham County Commissioners, said it was immediately clear Hagemann was the right fit for the county when he was hired because of his experience and skills.
“I’ve just found him to be exactly what Chatham County needed at the point that he stepped in,” Howard said.
She added that Hagemann’s time working in a large metro area like Charlotte was important for Chatham as the county grows from what she called “the little step-cousin to one of the big boys in the playground.” Hagemann’s astute eye for detail and anticipation of potential consequences, she said, make him a valuable asset in the county government.
Hagemann is quick to deflect praise for his role, but without him, those deals to bring the two largest economic development projects to the state thus far — first, VinFast, announced back in March, and then Wolfspeed, in September — might never have happened.
Along with County Manager Dan LaMontagne, Hagemann helped craft the language of the deals and economic incentive packages used to lure in the two “whales,” VinFast and Wolfspeed. LaMontagne said it was Hagemann’s creativity in those incentives that made the magic happen.
“His talent is just unbelievable,” LaMontagne said. “He is a very experienced attorney in the state who is really respected by everybody and I’m happy he’s on our team. He’s been involved in so many things in the state, but you wouldn’t know it just talking to him.”
One of the ways Hagemann’s experience and craftiness showed was through the negotiations involving the land needed for each of the manufacturing facilities. LaMontagne said when big companies are trying to pick a site, they often want obtain the land at no cost — as was the case with VinFast and Wolfspeed. During negotiations, though, Hagemann said doing that would create a “legal nightmare.” Instead, he crafted a land incentive package for both projects based on performance to ensure the companies execute promises of jobs and investment.
Both companies paid to acquire the respective sites in Moncure and Siler City, but under the incentive structure, the companies will earn specific rebates on property taxes — discounts based on meeting performance goals.
“Coming up with something that is that critical that both parties can agree to is no small task,” LaMontagne said.
While other locations involved in trying to land VinFast and Wolfspeed did offer sites for free, Chatham wasn’t willing to do that immediately. It’s partly because of Hagemann’s incentive structure that the companies still wound up choosing Chatham.
“These were very high-level conversations with very sophisticated clients,” Howard said. “But there was a strong level of comfort we had because Bob was there.”
The incentive packages offered to VinFast reduces property taxes at specific rates if the companies meet job and investment goals. In each case, performance would be measured by the creation of eligible jobs:
• 90% in years 1-4
• 80% in years 5-8
• 75% in years 9-11
• 60% in years 12-15
• 50% in years 16-20
For VinFast, the figure is predicated on reaching its 7,500 job promise in the next 20 years, while Wolfspeed must deliver on its 1,800-job promise.
The idea was so applauded that Siler City used the same structure in its Wolfspeed deal. County officials said this structure avoided massive debt for the county.
This structure also protects taxpayers, according to Smith. The EDC president said it ensures existing residents aren’t left with the tax burden if either of the projects doesn’t deliver on its promises.
“This structure was a really great way to keep us competitive during the early days of those projects,” Smith said. “That idea has been one of the most important and impactful things in those two very large projects.”
Besides his legal savvy and expertise, Hagemann also brings a unique attitude to the role of county attorney. LaMontagne said they share the philosophy of starting with “yes.”
“A lot of attorneys will just say, ‘Nope, can’t do that,’” LaMontagne said. “But Bob starts with ‘yes’ and never shuts anybody down; he thinks through solutions and solves problems.”
The county attorney’s solutions-oriented mindset is why he’s been behind the scenes in the three largest economic development projects in state history — Fujifilm in Holly Springs ($2 billion), in addition to VinFast ($4 billion) and Wolfspeed ($5 billion). The Bank of America Stadium project he assisted with in Charlotte provided a home for the NFL’s Carolina Panthers.
The nickname “Billion Dollar Bob” is well-earned, Smith said.
“I didn’t go out and find these things, they kind of came to me,” Hagemann said. “But having worked on those big projects, it’s pretty cool.”
Smith said he had no hesitations about Hagemann becoming a part of Chatham County’s team; his knowledge and experience with large-scale projects made him immediately trustworthy.
“With the success we’ve had, we’re on track to generate additional opportunities for the county,” Smith said. “We’re certainly grateful for that, but we also know we are prepared for those next projects because we have the advice and counsel of Bob.”
As VinFast and Wolfspeed begin construction and other projects come down the pipeline, Smith said there will surely be legal challenges that ensue — whether they be housing, wastewater or otherwise. But no matter the legal obstacles, Smith said he is confident Hagemann will keep the interests of Chatham at the heart of his decisions.
Smith and LaMontagne each said Hagemann is also quick to stand up for Chatham’s interests and not bend to the will of corporations. They both said Hagemann knows the limits of what Chatham is capable of and isn’t afraid to say no when it counts.
“These projects don’t exist in a vacuum,” Hagemann said. “They’re a magnet for other activity, so we need to be prepared for the big undertaking that is already underway here.”
While the growth pressure in the county will stir up legal obstacles, Hagemann said he welcomes the challenge. He calls himself an “evangelist” on local government because he frequently talks with young lawyers about how enjoyable it is to deal with the breadth of issues present on a local scale. Much of that passion all goes back to why Hagemann took the role as county attorney in the first place: to be part of the team.
“I want to take very little credit for the big issues that I’ve had the chance to work on in Chatham,” Hagemann said. “My role was simply part of the outstanding Chatham County team.”
Reporter Ben Rappaport can be reached at brappaport@chathamnr.com or on Twitter @b_rappaport.