The Frederick County Council voted unanimously on Tuesday to support a local nuclear research company with $35,000 from the county’s economic opportunity fund.
The funds for the company, X-energy, will serve as a 10% local match for a $350,000 conditional loan proposed by the Maryland Department of Commerce.
The loan will help pay for the estimated $75 million cost to renovate a nearly 89,000-square-foot facility in the Ballenger Creek area.
X-energy, which already operates in the area, is a nuclear reactor and fuel design engineering company focused on clean energy generation.
The company plans to use the new facility to establish a research and development and non-nuclear testing site, according to the funding resolution presented to the council.
The Frederick News-Post previously reported that Beth Woodring, director of financial operations for the county’s economic development office, said X-energy may also be eligible for commercial and industrial tax credit as part of the county’s initiative to encourage business growth and job creation.
The tax credit benefit will likely not meet the 10% match requirement, which is why the county is offering the $35,000 amount, Woodring told the council at an Oct. 9 discussion of the resolution.
Through this project, the company will create an additional 35 full-time employee positions by the end of 2027, according to the resolution.
Ahead of passing the resolution at Tuesday’s meeting, Council Member Steve McKay asked Woodring what the average salaries would be for employees at the new nuclear research facility.
“I verified the information that was submitted by the company,” Woodring said, “and for these positions, the average salary, excluding benefits, is $150,000.”
