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Council approves 10‑year, 50% CRA tax abatement for JBM Packaging expansion
Summary
The council approved a community reinvestment area (CRA) agreement with KCMG Realty to grant JBM Packaging a 50% property tax abatement for 10 years to support a new packaging facility in the King 2 Drive business park; the company will keep the existing Anchor Drive facility.
Lebanon City Council on May 13 approved a Community Reinvestment Area (CRA) agreement with KCMG Realty to support a new JBM Packaging facility in the city's business park, authorizing a 50 percent property tax abatement over 10 years.
City staff said JBM is an existing employer in the business park; the new facility on King 2 Drive is an expansion and the company's current Anchor Drive plant will remain in operation. The CRA agreement is intended to incentivize capital investment and job creation by reducing property tax obligations on qualifying improvements for a limited period.
The ordinance, described by staff as authorizing a 50% 10‑year property tax incentive, was moved, seconded and approved by roll call with votes recorded in the minutes. Council discussed the item briefly before the vote; no speakers from the public opposed the measure in the meeting record.
The council framed the agreement as an economic development tool to support private investment that the city expects will generate jobs and broader property tax revenue over time, even with the temporary abatement. The CRA was approved as ordinance 2025‑06‑00 (recorded in the meeting materials) and was adopted by recorded roll call votes from members present.
Staff did not provide a precise dollar value of the anticipated abatement during the meeting; the agreement sets the percentage and term but the final tax impact will depend on the assessed value of improvements once constructed.
