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Modine expansion in Rockbridge: grant closed, second grant underway; EDA urged to publicize local job gains
Summary
The EDA heard that Modine’s first grant is closed, grant two is active, and the company is leasing space in the Byers building; Chair Barton Brown asked for local publicity noting the county’s roughly $600,000 investment over seven years tied to what the meeting recorded as about $20,000,000 in added local salaries.
Brandy Flint told the Economic Development Authority on June 15 that Modine’s first state grant supporting its local operations is closed out and that a second grant is underway.
Flint said Modine is leasing the Byers building in the Natural Bridge Industrial Park and has a significant number of employees based there. Chair Barton Boyd Brown II asked staff to pursue more publicity in local newspapers, saying the county’s investment under a performance agreement — roughly $600,000 over seven years — has supported jobs that the meeting reported as adding about $20,000,000 in local salaries.
Flint also described one administrative adjustment: machine and tools tax revenues did not take effect until the third year of a performance agreement, so some funds were redirected to a building permit payment in order to align cash flows while the grant was closed out with the state.
The EDA did not take a formal vote on Modine actions at the meeting; members discussed communication and publicity steps for the county to highlight the local economic impact.
