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Hampton approves local match for Liebherr expansion; project promises 175 jobs and $23 million in improvements
Summary
Council approved participation in a Commonwealth Development Opportunity Fund agreement supporting Liebherr's expansion, agreeing to contribute approximately $257,000 as Hampton's local match toward a multi-jurisdictional incentive package that is expected to create at least 175 jobs and more than $23 million in property improvements.
Hampton City Council approved item 24-0479 to participate in a Commonwealth Development Opportunity Fund award that will support Liebherr's planned expansion in the Hampton/Newport News area.
Staff told the council the project is for an existing company with facilities that straddle the city line; the expansion will add at least 175 jobs and more than $23,000,000 in real property improvements. Under the commonwealth fund process, localities that benefit must provide a proportional local match: Newport News' obligated share was listed at approximately $1,470,000 and Hampton's share at about $257,000; Hampton will forward its contribution to Newport News as part of the bundled package to the state.
Council moved and approved the agreement and the related FY2025 budget amendment to appropriate the local matching funds required under the agreement.
