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CITY, ND – (NewsDakota.com) There’s a buzz in town about a new company that may be coming to Valley City this year.

Valley City Barnes County Economic Development Director Jennifer Feist says Company X will employ 7 to 10 people with a minimum wage of $15 to $16 per hour.

The Valley Development Corporation will release the name of the business once the company makes a final decision and financing is in place later this month. A Valley City resident asked if the company would benefit from a tax break incentives. Feist said no.

The company would lease a building in the northwest industrial park previously occupied by Vansco and John Deere.

The Valley City Commission approved a motion to release $50,000 in economic development funding to move the project forward. And the Barnes County Commission also approved a motion to release $50,000 in economic development funding for the project during their regular meetings on March 15th.