PITTSYLVANIA COUNTY, Va. – A major shot in the arm for Southside's economy could be coming in the near future.
On Friday morning, the Danville Pittsylvania Regional Industrial Facility Authority approved an option agreement with a company called INDEVPROP LLC.
According to a news release, the Virginia company represents a confidential client who is considering locating at the Berry Hill industrial park in Pittsylvania County.
The release goes on to say that the client would invest at least $200 million to locate there.
The release did not say when the client may make a decision.
Below is the full release:
"On Friday, September 14, the Danville Pittsylvania Regional Industrial Facility Authority approved and entered into an option with INDEVPROP, LLC, a Virginia limited liability company, for approximately 149-acres located within the northern confines of the Southern Virginia Mega Site at Berry Hill in Pittsylvania County.
INDEVPROP, LLC is representing a confidential credit-worthy client while they conduct necessary due diligence on the property, as they consider the site for a project that would result in a minimum investment of $200M.
If realized, the project would greatly benefit both Pittsylvania County and the City of Danville.
It is important to note, that the land being placed under option does not include or impact the graded 166-acre Phase 1 development area or surrounding contiguous 3,400-acre mega site, which was recently announced as being infrastructure-ready certified by the Commonwealth of Virginia.
The site is widely considered to be one of the premier locations for prospective large-scale automotive, aerospace, electronics, and advanced chemicals and materials manufacturing and assembly operations in the Southeast US.
The Danville Pittsylvania Regional Industrial Facility Authority will make no further comments regarding the Option Agreement at this time."