The authority also learned that Eldor Corp. has qualified for another round of incentive payments from the state and county totaling $1.5 million.
The state is paying Eldor $1 million for receiving a certificate of occupancy for the new industrial plant in Botetourt Center at Greenfield and creating 100 jobs, according to a summary of incentives provided by the county’s Department of Economic Development.
The county’s next incentive payment will be around January 1 when Eldor is due another $500,000 for the company creating and maintaining those 100 new jobs for 90 days.
The Italy-based, advanced automotive parts manufacturing company began production in in early fall on the first of what is expected to be four assembly lines at the new state-of-the-art plant and the company’s United States headquarters where it is manufacturing electronic ignition parts for automobiles.
The latest payment will bring the county’s total “economic development grant” of $1.3 million. The first $300,000 was paid when construction of the footers for the new plant was completed in 2017. A second payment of $500,000 was made in the summer when the company…