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Council approves $500,000 Commonwealth Opportunity Fund pass-through to Shenandoah Valley Organic
Summary
Council approved a $500,000 supplemental appropriation to pass Commonwealth Opportunity Fund payment through to Shenandoah Valley Organic (SVO) after staff said SVO exceeded its job-creation benchmark; council and staff noted continued review by the Harrisonburg Economic Development Authority on Dec. 3.
City staff told council the Commonwealth paid $500,000 to the city under a performance agreement tied to a Shenandoah Valley Organic (SVO) capital investment and job-creation commitment. The agreement required a $60 million capital investment and at least 110 new jobs within three years; staff said SVO has reported more than 950 new hires since 2021 and current combined staff headcount north of 1,450 at two Harrisonburg facilities.
City Manager Banks requested council authorization to pass the $500,000 grant through to SVO within 30 days. A council member moved and seconded a supplemental appropriation of $500,000 for Economic Development to pass to SVO; roll call recorded unanimous approval. The transcript shows the Harrisonburg Economic Development Authority is also scheduled to meet Dec. 3 to act on passing the funds to SVO.
