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Council approves tax-abatement deal as Palmetto plans multimillion-dollar expansion
Summary
Council approved a tax-abatement agreement to support an expansion by a local business referred to as Palmetto, which council remarks said involves about $7.66–7.67 million in investment and is expected to create roughly 72 jobs; council emphasized the abatement is structured as a rebate tied to company performance.
Gadsden City Council on May 5 approved a tax-abatement agreement for an existing local business referred to in the meeting as Palmetto to support an expansion project that officials said will invest roughly $7.66–7.67 million in construction and equipment.
Council presentations said the city will abate property taxes and certain sales taxes associated with the buildout for a limited period in return for the company’s commitments to spend the stated amounts and…
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