Louisa County approves performance agreement with Edgecore for Shannon Hill Business Park

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 Authority within 60 days after the county records the tax receipts. County staff said the rebate payments would come from Edgecore’s own tax payments and not from the county general fund.

Explaining the technology and resource implications, county counsel and staff noted Edgecore plans to use closed-loop cooling for the facility. County staff described that cooling as less water‑intensive than some other data‑center designs. In the presentation, staff also discussed a capital investment figure referenced by Edgecore representatives and clarified it is tied to real‑property investment rather than equipment: “$17,000,000,000 is strictly tied to real property,” a staff presenter said, adding that real property would be taxable at the standard county real‑property rate.

Supervisors asked several clarifying questions about how the rebate calculation and equalization clauses differ from a prior agreement with another developer. Staff explained the Edgecore agreement includes a $15 million cap that the earlier agreement did not, and that business‑personal‑property tax treatments are applied uniformly across data centers under existing county policy.

The motion to approve the performance agreement carried unanimously.

What happens next: staff indicated the agreement is ready for execution following the board’s approval and that county staff will continue to monitor tax and payment receipts that trigger the rebate schedule.