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Traditional Medicinals to invest $47 million in Franklin County; board authorizes performance agreements and property transfer
Summary
County administrators announced a $47 million investment by Traditional Medicinals that officials say will create 57 jobs; the Board of Supervisors authorized staff to finalize local and Commonwealth performance agreements and complete deed transfer.
The Franklin County Board of Supervisors on a unanimous vote authorized staff to finalize performance agreements and proceed with property transfers to support a new facility investment by Traditional Medicinals.
County Administrator Chris announced that Traditional Medicinals plans a $47,000,000 investment in Franklin County and expects to create 57 new jobs with an average salary of $70,657 per year. He said a groundbreaking will be scheduled in the coming weeks and that footing work could begin this year, with building construction starting in the first quarter of next year.
The board voted to authorize the county administrator, county attorney and the industrial development authority chair to finalize and execute a local performance agreement, a site excess maintenance agreement, and to “participate in the Commonwealth Opportunity Fund performance agreement as a party alongside with Traditional Medicinals and the Commonwealth of Virginia,” and directed staff to record a revised plat and finish transfer of the deed. The motion passed on a roll-call vote with all supervisors voting yes.
Representatives from Traditional Medicinals attended the meeting. Company founder Drake Sadler and CEO Joe Stanziano addressed the board, thanking county leaders and saying the company feels welcomed and committed to the project. Project team members introduced at the meeting included Gary Gatton (project manager for the Virginia site), Simon Rutroff (project engineer, Parker Design Group), and Jill and Bill Hume (Interactive Design Group, lead architects).
Board members and staff said the project advances the county’s business-park development goals. Chairman Thompson called the announcement “good news,” and staff said they will schedule a formal groundbreaking and continue partnership tasks required by the performance agreements.
The board’s authorization directs county officials to complete the local administrative steps needed to support the private investment; conditions, deadlines, and Commonwealth Opportunity Fund participation will be reflected in the final signed agreements.
County action taken: the board’s motion to authorize execution of the agreements and to proceed with deed transfer was approved in a recorded roll-call vote.
