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Warrick County Council approves preliminary economic revitalization resolution for 'Project Vanguard'
Summary
The council approved a preliminary resolution to create an economic revitalization area for Project Vanguard, a mechanical contractor planning a 150,000 sq. ft. facility in North Warrick Industrial Park that the county said would bring about 101 jobs averaging $44.71 per hour and a $5.4 million business personal property investment.
Warrick County Council voted unanimously Tuesday to approve a preliminary resolution declaring an economic revitalization area to support "Project Vanguard," a mechanical-construction employer planning to locate in the North Warrick Industrial Park.
Steve Raleigh of the county economic development office introduced the two-step proposal and said redevelopment bodies had recommended the company. "Project Vanguard is one of the nation's leading mechanical contractors...and here in Warrick County, it's gonna mean 101 jobs that average $44 an hour. $44.71 to be exact," Raleigh said. He told the council the company would move into a 150,000-square-foot warehouse and invest about $5,400,000 in business personal property.
Raleigh said the package had unanimous support from the economic development advisory council and the redevelopment commission, and that approval of this preliminary resolution would bring the matter back for final action next month.
The council approved the reading and the motion by Greg Richmond, seconded by "Rick," with the clerk announcing the motion carried 7-0.
The preliminary resolution allows the county and redevelopment commission to proceed with a tax-phase-in structure for the new assessed value (a tax increment financing framework was noted); the redevelopment commission must pass a companion resolution before the phase-in takes effect. No final incentive package or tax impact figures beyond the business personal property investment estimate were presented at the meeting.
The council's next scheduled meeting will include follow-up materials and the redevelopment commission's action, according to county economic development staff.
