Halifax County commissioners Monday approved a land conveyance to a company which is interested in locating in the corporate park off Highway 561.

The fair market value of the 698.7907 acres of land has been determined to be $2,096,000, Economic Development Director Cathy Scott wrote in a memo to the board which was contained in the meeting agenda packet.

Scott told the board that she could not immediately release the name of the company because it is in the process of seeking state economic development dollars.

A public hearing on the matter drew no speakers.

Scott told the board the successful location of the company would fill out the corporate park.

The resolution approved by the board said the production company is considering expansion of its business operations into Halifax County.

The company, according to the resolution, will make real property improvements of at least $43.300 million and invest in equipment and machinery purchases of $2,250 million, which is expected to generate a total ad valorem taxable investment within the county of $45.550 million. “In arriving at the amount of consideration the county receives for the conveyance of the property to the company, the board has taken into account the prospective tax revenues over the next 10 years resulting from improvements to be constructed on the property and other prospective tax revenues on machinery and equipment investments by the company,” the resolution says.

It is anticipated that the company will create 20 new permanent jobs in Halifax County which will pay wages that exceed the average weekly wage in the county. 

Scott told the board the company’s average weekly wage will be $1,007 compared to the county’s average weekly wage of $823.

This approval and authorization of the conveyance will be null and void if the company does not execute and deliver the final version of the economic development agreement to the county by 5 p.m. on July 16.