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Fairfield County approves incentives for 'Project Mega Cable,' renamed Mega Metal Incorporated
Summary
The county council approved a lease-purchase ordinance and a fee-in-lieu agreement to support a proposed copper-wire manufacturing operation at the Fairfield Commerce Center, after discussing project details in executive session.
Fairfield County Council approved two ordinances on third and second readings to support an economic development project first identified in executive session as Project Mega Cable and amended at third reading to Mega Metal Incorporated.
The council passed ordinance No. 846, authorizing a lease-purchase agreement that county staff described as a lease-to-own structure that would include lease payments of $680,000 over 10 years to cover the purchase price of a building to be used by the project. The council also approved ordinance No. 843, a fee-in-lieu of ad valorem taxes…
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