Both Halifax County Economic Development Director Cathy Scott and Roanoke City Manager Joseph Scherer confirmed this morning the proposal called Project Chips, which would create 16 jobs, would be the topic of a public hearing set for city council's June 21 meeting, which will be held at the Lloyd Andrews City Meeting Hall on Jackson Street. Time of the meeting is 5:15 p.m.

Scherer declined comment on the nature of the business, which is considering building within the city's corporate limits and Scott reiterated she could not disclose the name of the company at this point.

According to a notice of public hearing sent this morning, “The city council intends to enter into an economic development agreement with a manufacturing company. Under the terms of the agreement, annual grants would be paid to the company over a period of five years in the estimated total amount of $700,000.”

The notice explains the actual amount of each year’s grant payment would be based upon the taxable investment made by the company in the form of real estate improvements, machinery, and equipment. Grant payments would also be contingent upon the creation of a specified number of new jobs in the city, the establishment of certain wage levels for those jobs, and maintaining a specified level of taxable investments, jobs and wages.

“The city will fund the grant payments from the city’s general fund,” the notice says, further explaining, “The city council believes this project will stimulate the local economy, promote business and result in the creation of a substantial number of new, permanent jobs in the city of Roanoke Rapids that pay at or above the median average wage.”

Scott disclosed details of Project Chips during the Monday commissioners meeting, saying the company is expected to make a taxable investment of $48,252,400 within three years of its location in the county and offer wages more than the current weekly wage for the county. The average county wage is $14.62 per hour while Project Chips is expected to bring an average wage of $18.43 per hour, she told the board.

The project is subject to an economic development incentive grant agreement of $700,000 payable in installments over a five-year period, the county resolution on the matter says.

According to the county agreement, the county will provide the incentive grant to assist the company in the location of its manufacturing operations. Subject to the job creation and job retention and subject to the ad valorem taxable investment creation and retention requirements the county would pay $140,000 on January 15 over five years.