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News & Blog

Incentives adding up for business coming to Fort Monroe

News & Blog

HAMPTON — A company promising to create nearly 600 jobs on Fort Monroe may receive more than $1 million in tax incentives from the city of Hampton, the Fort Monroe Authority and the state.

With a $300,000 Governor’s Opportunity Fund grant already in hand, Liberty-Source PBC is scheduled to hear Wednesday whether the City Council will agree to provide an additional $150,000 grant from the city’s Economic Development Fund.

Those incentives will also come with rent reductions at Fort Monroe valued at $150,000 and an estimated $417,200 from the Virginia Jobs Investment Program, bringing the total package to a little more than $1 million, according to a resolution being considered by the council.

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