From the Richmond Palladium-Item:
Grant funds will help a Hagerstown company expand its operation and add five new full-time jobs.
The board of directors of the Economic Development Corporation of Wayne County on Monday unanimously approved an Economic Development Income Tax grant of $35,000 to Maxwell Milling of Indiana, a division of Goldsboro Milling Co. Maxwell Milling processes grains and minerals for production of swine food at 4359 Indiana 1 near Hagerstown.
The request for funds now must go before the Wayne County Commissioners.
...
The company’s application for EDIT funds was the first to be approved under the EDC’s grant qualification guidelines adopted in March, meeting the minimum requirement for jobs created and wages paid and going well above the minimum required company investment of $250,000.
The EDIT tax represents 0.25 percent of adjusted gross personal income. Government entities in Wayne County have the option to give part of the EDIT taxes they collect to the consolidated EDIT fund, used by the EDC to attract new and assist existing businesses in the county.
“Existing businesses are vital to our economic strength and diversity and the EDC wants to help them remain strong and successful,” EDC board president Tracie Robinson said in the press release.
http://www.pal-item.com/apps/pbcs.dll/article?AID=2013306030024
