Funds get OK from the IDA
WINCHESTER — The Frederick County Industrial Development Authority Wednesday morning gave final approval to three fiscal agreements to aid business growth in the county.
The agreements, totaling a $725,000 commitment of state and county funds for three companies, were approved during the IDA’s meeting in the Frederick County Administration Building.
While the county Board of Supervisors previously approved the three agreements, state code does not allow the board to issue the grants. The grants are made to the IDA, which then distributes the funds, according to Frederick County Administrator John R. Riley Jr.
The three agreements are:
A $250,000 Governor’s Development Opportunity Fund Incentive Grant for Navy Federal Credit Union. The credit union, which serves more than 4.3 million military members and their families, is expanding its customer contact center at 144 Security Drive — off Millwood Pike (U.S. 50), southeast of Winchester. The $20 million expansion is expected to create 405 jobs.
A $325,000 Local Economic Development Incentive Grant for Kraft Foods Global Inc. The business intends to construct and equip a $25 million facility near Martinsburg Pike (U.S. 11), just north of Winchester, that will create 25 new jobs.
A $150,000 Governor’s Development Opportunity Fund Grant for McKesson Medical-Surgical Inc. The California-based medical supply company is constructing an approximately $36.9 million distribution facility near Clear Brook, north of Winchester. The facility is expected to create 205 new jobs.
While money for the McKesson agreement is coming from the state, funds for the other two will come from Frederick County’s unreserved fund balance, Riley said after the meeting.
Chairman Richard G. Dick said following the votes that the new jobs and tax revenue represented by the businesses will benefit the county.
“I think it shows that [we are] interested in having business come to Frederick County,” Dick said. “I’m looking forward to seeing much more of this. It’s a wonderful thing for our community.”
Attending the meeting were Chairman Richard G. Dick, Vice-Chairwoman Beverley B. Shoemaker and members Stanley Crockett, Jim Lockard, John L. McKenzie and Dan Wall. Member Jay C. Meyers arrived late.
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