Incentive Programs

We have prepared our 150-acre business park with roads, water, sewer, electricity and natural gas. We have ordered two 15-megawatt natural gas-driven turbines expected to be operating at peak power in the spring of 2012.

We are prepared to limit your tax liability for the first 10 years to 50%. This is possible if you agree to the city issuing Chapter 100 bonds for the project. Since the city will issue the bonds, it will own the facility and lease it to your company. This would make it tax-free. The 50% would be negotiated with the city and payments would be made to all eligible taxing entities with payment in lieu of taxes (PILOTS). See our bond counsel’s memo addressing these issues.

The IDA would provide an office downtown for the first year for contractors, meeting, planning, and a training support center. The IDA would make available to the company $100,000 to be used as the company chooses for travel expenses, moving expenses, site preparation, design fees, etc. We will work with the Mineral Area College and our work force investment to take advantage of all training opportunities. We will be able to assist you in the selection and hiring process.