Surry County unanimously approves $18,344.88 incentive package for "Project Chicago"

The Surry County Board of Commissioners voted unanimously Jan. 5 to approve a resolution offering incentives to an economic-development prospect called Project Chicago.

Blake Moyer of the Surry County Economic Development Partnership introduced the project during a public hearing. Commissioner Mark Marion moved to approve the resolution and Commissioner Melissa Hiatt seconded; the motion carried on a unanimous vote.

The resolution authorizes a cash grant not to exceed $18,344.88, payable over five years, and conditions payment on Company investment of up to $1,000,000 in new improvements to real and personal property by Dec. 31, 2027. The resolution specifies that the cash grant shall be reduced proportionally if the company fails to meet the stated benchmark and that payments will be made only after the company provides evidence of new investment and after related assessed property taxes are timely paid. The company is to invoice the county for an amount equal to 80% of taxes paid on the new assessed value attributable to the investment; existing property value is not eligible for the incentive.

During the hearing, resident Larry Johnson asked for more detail about the incentive package; he also expressed support for the project. The resolution directs the chairman to execute an incentive agreement in a form approved by the county manager and county attorney and takes effect immediately.

The board’s action formalizes the county’s offer of a modest, performance-based grant intended to encourage taxable investment and job creation locally.