MONTGOMERY COUNTY, Va. – The Economic Development Authority (EDA) of Montgomery County has agreed with Cox Family Farms LLC to purchase 124 acres for $2.5 million.
The property is located next to the county’s Falling Branch Corporate Park.
The EDA has 180 days from May 27 to decide whether to purchase the property and evaluate the expansion of utilities and a road to the property.
“The Board of Supervisors is committed to keeping Montgomery County a growing and competitive area that continues to attract new businesses,” said Chris Tuck, chair of the Montgomery County Board of Supervisors. “Acquiring this property is an important step in expanding our existing corporate park and a decision that will pay dividends in the future by providing the groundwork to attract larger commercial businesses to the county.”
Once the property has been purchased, the EDA said it will begin marketing it in an effort to attract businesses.
“This is a great investment by Montgomery County that will open the door to new opportunities for our region,” said Charlie Jewell, executive director of the New River Valley Economic Development Alliance. “Having a 100-plus acre site that’s ready for development will allow the county to compete for much larger projects. This will allow us to better market the county to attract a wider range of businesses to the New River Valley.”
The Montgomery County Planning Commission will have a site visit on June 14. A Public Hearing with the Planning Commission related to the rezoning request will take place on July 19, followed by a Public Hearing with the Montgomery County Board of Supervisors on July 24.