Plant to generate $100M in new wages
Published 9:35 am Saturday, April 21, 2012
BY STEPHEN H. COWLES/CONTRIBUTING WRITER
Playback58@gmail.com
ISLE OF WIGHT—The county can look forward to a profitable relationship with Green Mountain Coffee Roasters, including realizing $100.9 million in net new wages and $31.2 million in local sales and real estate tax revenue over the next 20 years.
This was part of the economic impact analysis given to the Board of Supervisors on Thursday night.
“The bottom line is that in addition to GMCR providing 800 full-time positions over the next five years, another 1,470 jobs in suppliers, retailers and personal services would result from the company’s presence and be supported by the employees,” said Lisa Perry, the county’s director of economic development.
Perry explained that the company hired Younger and Associates, a market research and economic development firm, to analyze the long-term and indirect effects, as well as keep the board and Isle of Wight community informed.
Perry said the personal property investment (machine and tools) would yield $160 million within five years.
The board agreed to advertise a public hearing for the proposed 2012-2013, $57.2 million operating budget for schools.
For the county’s proposed operating budget of $93.4 million, however, the board agreed to meet 10 a.m. Thursday, April 26, to more closely review it. The first year of the $41 million capital improvements plan will also be discussed. The suggested capital improvement budget for 2013-2017 is $161.8 million.
Of both the school and operating budgets, Smithfield District Supervisor Al Casteen said, “I think we can do without a tax increase, but it will take some very aggressive budgeting.”
Windsor District Supervisor Dee Dee Darden told The Tidewater News that a couple of items in the capital improvement plan include $5.4 million for a new Isle of Wight County Rescue Squad building and $2 million for repairs to Hardy Elementary.
On whether or not to become involved in a proposed regional plan to install flood gauges, the board postponed any decision.
“Considering the maintenance fee, we wonder if it would be really helpful,” Darden said. “We want to be good partner, a good neighbor, but is $7,000 a year really necessary? Still, we haven’t said no.”