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Auburn approves tax abatement for Korea Fuel Tech America; company to invest $4 million and add 17 jobs
Summary
The council approved a tax abatement for Korea Fuel Tech America at 272 Technology Parkway; the mayors minutes said the company will invest $4,000,000 and hire 17 employees at the Auburn facility.
The Auburn City Council approved a tax abatement for Korea Fuel Tech America during its July 22 meeting, the mayors minutes said.
According to the minutes, Korea Fuel Tech America, located at 272 Technology Parkway, plans a $4,000,000 capital investment at the Auburn plant and expects to hire 17 new employees. The minutes said the city is "very proud" the company chose Auburn for expansion.
The mayors minutes did not include an ordinance number, motion maker, or a recorded vote tally. Details about the duration and dollar value of the abatement, eligibility conditions, or any accompanying incentives were not specified in the minutes.
