Although officials with Dupont Pioneer haven’t finalized the location of a new product line, Tipton County officials sweetened the incentives for the expansion to take place in Tipton.
The Tipton County Council Tuesday voted to approve a 10-year real and personal property tax abatement for Pioneer.
Jeff Sheridan, executive director of the Tipton County Economic Development Organization, asked the council to support the tax abatement, adding the company has not made a decision on the location of the expansion.
The Tipton County Review Committee voted unanimously to approve the tax abatement request.
Jesse Busse with Pioneer said Thursday the approval of the tax abatement makes it likely Tipton will be selected as the site for the planned expansion. She said an announcement could be made in March.
In passing the tax abatement, the council designated the entire 116-acre Pioneer site on the west side of Tipton as an Economic Revitalization Area. Not included in the area is the location of the Tipton County Foundation.
The 10-year tax abatement would be phased in starting at 100 percent the first year and decreasing by 10 percent each year for a decade.
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