Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Economic Development topic
No spam. Unsubscribe anytime.
Hertford County approves economic-development agreement for Project Green Lantern
Summary
The Hertford County Board of Commissioners approved an Economic Development Agreement and a Community Reinvestment Agreement to support Project Green Lantern, a multi‑phase manufacturing investment by US Forged Rings, Inc., with phased investments described at $250M, $300M and $325M.
The Hertford County Board of Commissioners on Feb. 26 approved an Economic Development Agreement and a Community Reinvestment Agreement intended to induce Project Green Lantern, a proposed manufacturing facility by US Forged Rings, Inc.
Attorney Charles L. Revelle III presented the agreements to the board, saying the company proposes a phased investment in the county tied to incentives authorized under the Local Development Act of 1925, N.C. Gen. Stat. §158-7.1. The documents included a timeline calling for construction to be completed within six years of the start of construction.
Giacomo Sozzi, identified in the record as CEO and president of US Forged Rings, Inc., was introduced to the board by Kelly Bowers and outlined the company’s planned investments. The agreement text in the record lists an approximate $250,000,000 investment in phase one, $300,000,000 in phase two and $325,000,000 in phase three.
The board opened a public hearing on the proposal. The Hon. Brenda Green Branch, Senior Resident Superior Court Judge for Halifax County Judicial District 7A, offered supportive public comment, saying the project would generate positive developments for county residents and for the company. The transcript records no other public comments.
On a motion by Commissioner Ronald J. Gatling, seconded by Commissioner William F. Mitchell Jr., the board first closed the public hearing and then, on a separate motion by Commissioner Gatling seconded by Commissioner Mitchell, approved the enactment of the Economic Development Agreement and the Community Reinvestment Agreement as presented by Attorney Revelle. The transcript does not record a roll-call vote tally or further implementation steps.
The agreements state the county will provide certain incentives to encourage the company’s construction of the facility; the exact incentives and implementation timeline beyond the agreement text shown in the record were not specified in the transcript.
