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Powhatan transfers county industrial site to EDA to boost marketing and raise site tier
Summary
The Board approved moving a 19.76‑acre county parcel into the Economic Development Authority’s inventory. The EDA says a modest investment could move the property from a Tier 2 listing toward Tier 3 or Tier 4 status and produce net proceeds for the county when sold to industrial users.
Powhatan supervisors voted Feb. 24 to transfer a county‑owned 19.76‑acre parcel to the county Economic Development Authority so the EDA can undertake technical studies and market the site to industrial users.
EDA members presented financial scenarios showing how modest upfront investments could raise the site’s market tier and increase its resale value. The EDA said about $122,000 in studies and improvements could move the parcel from Tier 2 to Tier 3 on the state site‑inventory scale,…
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