The Chester County Council is negotiating with two companies to expand operations in the county, a combined investment of up to $11 million spread out over several years.
The identities of the companies have not been disclosed, but County Supervisor Carlisle Roddey said this week both are local.
“That they are existing businesses, willing to invest – makes me feel good,” Roddey said.
“Project Duck,” according to an inducement resolution passed by the council, represents a $4 million investment. Roddey said the project could generate between 25 to 30 jobs.
On Monday, the council passed a fee-in-lieu tax agreement with Project Duck, setting a 6 percent assessment rate and “the lowest millage” rate allowed by law, the resolution states. The agreement is for 25 years.
The council also approved a special source revenue credit which will rebate 25 percent of the taxes paid under the fee agreement for two years.
“Project BB2” is an existing Chester County distribution company. The company, based in New Jersey, has an existing fee-in-lieu tax agreement with the county for a $3.1 million investment by December 2017 and the creation of up to 100 jobs. The company wants to increase the investment to as much as $6.9 million through December 2022.
According to a proposed county ordinance, the company has made “minimal investment,” so far under the initial agreement.
The council has held two of three readings needed to pass the ordinance.