Commissioners today approved an economic development incentive grant for an existing manufacturer which is considering expansion of its operations in Halifax County or another location the company owns.
Halifax County Economic Development Director Cathy Scott said following the meeting she could not release the name or location of the company which for purposes of discussion has been given the codename Project River.
She told the board the incentive grant is $78,576 over five years.
The expansion would create $3 million in taxable investment in the form of real property, machinery, and equipment. It would create 10 new full-time jobs.
There were no speakers during a public hearing on the matter.
The resolution approved by the board says the company will pay wages that exceed the current average weekly wage in the county. “ … The expansion of this manufacturing company in Halifax County will stimulate, diversify and stabilize the local economy.”
The document also says that the expansion will promote business in the county, increase the population and taxable property. “ … The amount of any given annual installment payment under the proposed appropriation and expenditure shall be contingent upon the level of taxable investment as well as the creation of a specified number of new jobs and wages.”