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Wise County approves revenue-sharing agreements with LPRIFA; Project Intersection cited as 100 jobs and $27M investment
Summary
The Board approved resolutions to enter into revenue-sharing agreements with the Lonesome Pine Regional Industrial Facilities Authority (LPRIFA) tied to Project Intersection, which LENOWISCO reported has generated about 100 jobs and represents a $27 million investment.
The Wise County Board of Supervisors voted unanimously to enter into revenue-sharing agreements with the Lonesome Pine Regional Industrial Facilities Authority (LPRIFA) and to approve revenue-sharing terms tied to Project Intersection. Duane Miller, Executive Director at LENOWISCO, told the Board LPRIFA has been in existence six years and that Project Intersection has created approximately 100 jobs and represents a $27 million investment.
Board motions approved Resolution #33-2026 to enter into revenue sharing with LPRIFA and approved additional resolutions authorizing revenue sharing for two Project Intersection buildings (Resolution #34-2026 for a 20,000 sq. ft. building and Resolution #35-2026 for a 28,000 sq. ft. building). The presentation noted each participating member contributed $5,500 to LPRIFA and that net revenues allowed reimbursement of the annual contributions plus an additional $4,500 distribution to localities the previous fiscal year.
