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Lynchburg EDA approves first Framatome incentive payment as staff details grant, site and marketing work
Summary
At its Dec. 19 meeting the Economic Development Authority approved the release of the first annual incentive payment to Framatome after staff said the company met job-creation benchmarks, and staff summarized multiple grant applications and site-development steps underway.
The Economic Development Authority of the City of Lynchburg voted Dec. 19 to release the first annual incentive payment to Framatome after staff said the company met job-creation and retention benchmarks under a performance agreement.
Marjette, a member of the authority’s staff, told the board that Framatome had submitted required documentation on new or retained employees. “I think the number that they gave me, when they sent the information in was 95, but I think it's up to a 130 now,” she said, adding that the payment schedule the board previously approved “really helps them out.” A motion to approve the release was made and seconded; members voiced “aye” and the release was approved on the record.
In a broader staff report Marjette…
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