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Council approves tax abatements for Caterpillar expansion at Lebanon Business Park
Summary
Lebanon City Council approved Resolution 2025-18 granting four-year tax abatements tied to a planned Caterpillar expansion at 475 South Mount Zion Road, citing projected investment of $60 million and about 550 new jobs.
Lebanon City Council on Monday approved a resolution granting tax abatements to support Caterpillar’s proposed expansion at 475 South Mount Zion Road in the Lebanon Business Park.
The move clears a four-year personal property abatement for Caterpillar and a four-year stepped real property abatement for the property owners, CIVF and Cabot, after the council found the project met statutory criteria for an economic revitalization area.
The recommendation came from Andrea Kern, chief executive officer of the Boone Economic Development Corporation, who told the council Caterpillar plans to expand its existing facility by about 370,000 square feet and invest roughly $25,000,000 in real property and $35,000,000 in personal property — a total investment the EDC described as…
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