Surry County unanimously approves incentives for ‘Project Chicago,’ authorizing up to $18,344.88 over five years

The Surry County Board of Commissioners voted unanimously on Jan. 5 to adopt a Resolution supporting “Project Chicago” and to authorize a conditional incentive package tied to the company’s investment.

Blake Moyer of the Surry Economic Development Partnership introduced Project Chicago and asked the Board to support the project. After a public hearing that included comments in favor from Larry Johnson, Commissioner Mark Marion moved to approve the Resolution and Commissioner Melissa Hiatt seconded. The motion passed unanimously.

The Resolution authorizes a cash grant not to exceed $18,344.88, payable over five years and subject to the company meeting an investment benchmark. The Resolution specifies that the cash grant will be reduced proportionately if the company fails to achieve or maintain the benchmark minimum investment. The agreement requires that the company make up to $1,000,000 in new improvements to real and personal property by Dec. 31, 2027; county payments are conditioned on the company providing evidence of the new investment and on timely payment of assessed property taxes. The Resolution further directs that the company invoice the county for an amount equal to 80% of taxes paid on the new assessed value created by the investment, with payment requests allowed beginning in fiscal year 2028.

County staff were authorized to finalize the Incentive Agreement in a form approved by the County Manager and County Attorney and to file the executed agreement in County records. The Resolution took effect immediately.