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Council approves confirming resolution for Procuma expansion at 8301 North Kentucky Avenue
Summary
The Vanderburgh County Council voted to confirm a property-tax phase-in for Procuma’s expansion project at 8301 North Kentucky Avenue after a brief presentation by the Evansville Regional Economic Partnership and questions about an economic-impact figure in the project packet.
The Vanderburgh County Council voted to approve a confirming resolution (R-12-25-011) granting a property-tax phase-in for Procuma’s expansion at 8301 North Kentucky Avenue.
Pat Hickey of the Evansville Regional Economic Partnership (EREP) introduced the confirming resolution and said the project met the partnership's standards for incentives. Hickey said the project's economic-impact analysis was prepared by IMPLAN; during the presentation several council members questioned a line in the packet that read "31.129," which some initially read as 31,129 jobs. Hickey and other presenters clarified that the figure as printed was not 31,129 jobs and agreed to provide a tutorial on the methodology and assumptions behind the analysis.
Council members asked for more clarity on the model assumptions and where key numbers were derived. After the questions and a second from a council member who had supported the preliminary resolution, the council voted in favor of the confirming resolution.
What comes next: The confirming resolution moves Procuma closer to receiving the proposed tax phase-in; EREP and Procuma representatives said they would follow up with documentation explaining the IMPLAN analysis and assumptions cited in the packet.
