Henrico approves ASGN incentive addendum and $1.2M bond allocation for airport facility

The Henrico County Board of Supervisors on May 26 authorized two economic development items: an addendum to a 2020 performance agreement supporting ASGN Incorporated and the allocation of $1.2 million in previously issued bond proceeds to airport facility construction.

Miss Tratina described the ASGN addendum: the Commonwealth's Opportunity Fund would provide a $356,000 grant to the county, and the county would appropriate the funds plus $400,000 in local matching funds to the Economic Development Authority to pay ASGN in recognition of capital investment and the creation of 157 jobs with an average annual wage of nearly $90,000, according to staff. The EDA board approved the addendum May 21 and staff recommended board approval; the board approved the resolution by voice vote.

In a separate action, the board approved allocating $1,200,000 in Public Finance Authority bond proceeds to construction of airport facilities located at 5455 Fox Road on property owned by the Capital Region Airport Commission and leased to AFCO Cargo RIC LLC (referred to in the presentation as an AFCO/ATCO cargo project). Staff emphasized that approval of the allocation does not create a county financial obligation; the allocation coordinates with state and federal law, and the Capital Region Airport Commission held a public hearing the same day.

What it means: The actions advance local economic development commitments tied to job creation and airport infrastructure, while staff noted the county bears no new financial liability from the bond allocation approval.—(Provenance: ASGN addendum presentation began SEG 1121; bond allocation discussed SEG 1176–1214.)