The Allen County Economic Development Group talking to the commissioners about a couple of tax abatement agreements that could be coming across their desks in the near future.
Nutrien is asking for 50% tax abatement for 10 years on the construction of a storage building and office space for contractors that are working at their facility. Lakeview Farms in Delphos is looking at a 100,000 square foot expansion of their plant to add a new production line and warehouse space, that could cost between 35 and 40 million dollars. They are looking at a tax abatement of 90% for 10 years on the new expansion. Gressel Drive will need to move to the east to build the expansion.
The economic development group has got around half of the 2 and half million dollars to do that project, from places like ODOT and Jobs Ohio. Lakeview will pick up the rest of price tag if the tax abatement is improved. Tax abatement agreements are part of incentive packages which have been successful in bringing investments to Allen County.
“Just think of the P&G project where they could have gone to Louisiana and other locations. But they are going to look at investing $501 million of capital investment in Allen County,” explained David Stratton, President/CEO at Allen Economic Development Group. “In the case of Nutrien, they have 9 plants, so they could put money and investment in other plants. Our incentive package, could help them to support the possibility of an expansion at the Lima plant. In the case of Lakeview, they have many other locations. Incentive packages are critical for growth for our businesses.”
The Allen County Commissioners will vote on both tax abatement deals for Nutrien and Lakeview Farms in future meetings.
