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Council approves Project Maple Leaf on third reading; county to offer fee‑in‑lieu incentives
Summary
Chesterfield County approved the third reading of Project Maple Leaf, an economic development agreement with Cyclic Materials expected to invest about $82.6 million and create around 91 jobs. County counsel and company representatives said the project will generate an estimated $5 million in additional property-tax revenue over 30 years; the company asked to hold public announcement until January.
Chesterfield County Council approved the third reading of Project Maple Leaf, a fee‑in‑lieu economic development agreement with a company identified in meeting materials as Cyclic Materials.
Economic development staff and company counsel told council the company plans a roughly $82.6 million investment and up to 91 jobs in the county. John Wall, representing the company, estimated the project would generate at least $5 million in additional property‑tax revenue over 30 years, which he said exceeds the value of tax incentives granted under the fee‑in‑lieu arrangement.
Matt Girbati, identified as the chief operating officer for Cyclic Materials, described the business as a recycling company that extracts elements used in electronics, medical devices and electric vehicles; he said the company will comply with state environmental regulations and intends to hire locally first, with training and apprenticeship programs under development.
Council discussed the common use in South Carolina of fee‑in‑lieu incentives to attract manufacturers and the confidentiality requested by the company while state incentives are being finalized. After public questions and staff comments, council moved and seconded the third‑reading approval; members approved the ordinance by voice vote.
County and company representatives said the parties expect to announce details publicly in January and to coordinate a joint press release with state officials. No roll‑call vote or numeric tally was recorded in the meeting transcript.
