CHESTERFIELD – The Economic Development Authority of Chesterfield County announced Monday the filing of a detailed update of their rezoning application for a large, advanced manufacturing facility expected to bring significant new tax revenue and thousands of well-paying jobs to the county.
An economic analysis performed by Mangum and Associates found the project would be a major economic driver for the county for years to come, including: 6,777 to 13,555 total full-time equivalent jobs benefitting from the project (2,000 to 4,000 direct jobs); $5.5 million to $10.9 million a year in new tax revenue to Chesterfield County; $4.1-8.2 billion in total economic output; $75 million to $151 million in net financial return to the county over 30 years. “The rezoning will bring tremendous economic benefits to the county in terms of high-quality jobs and tax revenue,” EDA Member Terri Beirne said. “This is the perfect time to focus on future opportunities for jobs paying high wages and benefits.”
The application limits the property to a small number of advanced manufacturing uses. Advanced manufacturing is defined in the application’s binding proffers as “industries that are clean, low-emission, environmentally-friendly facilities that rely on new and emerging technologies, processes, and management methods that enhance productivity and competitiveness.” More than 100 uses are specifically excluded from the site.
The EDA’s rezoning plan gives residents living near the site a number of protections, including the largest buffer ever proposed for a manufacturing site in the county, which will be a minimum of 300 feet in the areas adjacent to existing residential subdivisions.
“Our goal was to bring forward an application that gave residents assurance that the facility occupying the site will be clean, quiet and able to co-exist near residential homes,” Beirne said.
A Traffic Impact Analysis performed by Timmons Group shows the area road network can function effectively at full buildout with the construction of a new east-west connector road between Route 1 and the site, and a new north-south connector road. The east-west connector road is subject to a separate approval process. No road construction is expected to occur until a prospect is identified and announced.
The traffic levels are also expected to be significantly less than what is authorized under the current residential zoning. Peak traffic at full project buildout for advanced manufacturing use is expected to be 3,644 evening peak trips and 24,000 average daily trips. This compares with 6,500 evening peak trips and 66,800 daily trips expected under the current residential zoning.
“The traffic study shows that advanced manufacturing on the site will bring about one-third the total daily number of vehicles compared with the already-zoned residential project,” Beirne said.
The Planning Commission expects the application to be heard at their normally scheduled meeting in May. Additional public meetings will be held in April to provide information to residents. Detailed study information will be placed on the project website no later than March 13 at www.matoacarezoning.com.