Halifax County commissioners Monday approved an economic development incentive package for a manufacturing concern that is expected to produce $9.5 million in taxable investment and create 10 full-time jobs.

The location of the project, currently known as Project Pole, was not mentioned and there was no mention of what the company intends to manufacture. There was no immediate response today to a follow-up question seeking to determine the nature of the business and where in the county it will be located.

A public hearing on the matter drew no comments.

According to the proposal presented by Halifax County Economic Development Director Cathy Scott, the county proposes to appropriate and spend $264,900 to be paid in annual installments over the next five years — contingent on the level of taxable investment and the actual number of jobs created by the company in a given year. “The location of this manufacturing company in Halifax County will stimulate, diversify and stabilize the local economy, promote business in Halifax County and result in the creation of a substantial number of well-paying jobs,” Scott said in a document presented to the board.

Commissioner Linda Brewer made the motion to proceed with the incentive package, saying, “$264,900 seems like a deal to me for bringing in a $9 million investment.”

The schedule for the cash incentive grant payments is as follows:

$57,760 on January 15 following the end of year 1

$54,051 following the end of year 2

$55,346 following the end of year 3

$51,029 following the end of year 4

$46,713 following the end of year 5

The terms of the agreement state the company shall pay an average hourly wage that is above the current average hourly wage of $17.46 in Halifax County.