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Louisa County approves performance agreement with Edgecore for Shannon Hill Business Park
Summary
The Louisa County Board of Supervisors voted unanimously Dec. 1 to approve a local performance agreement with Edgecore for development at Shannon Hill Regional Business Park. The agreement caps rebates at $15 million or 15 years and ties annual payments to 15% of Edgecore's annual county tax receipts.
The Louisa County Board of Supervisors approved a local performance agreement with Edgecore for development at Shannon Hill Regional Business Park during its Dec. 1 meeting.
Under the agreement the county will rebate up to a total of $15,000,000 or for 15 years, whichever comes first. Edgecore will be eligible to receive annual grant payments equal to 15% of what the company pays in county tax revenue for that year; payments will be made through the Industrial Development…
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