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Lenor council approves tax-based incentive for JBS expansion dubbed 'Project Peania'
Summary
The Lenor City Council unanimously approved a five-year tax-grant incentive for a meat-processing expansion the meeting referred to as "Project Peania," after a public hearing in which the company said it would invest more than $20 million and create at least 50 full-time jobs.
The Lenor City Council voted 4–0 on March 17 to approve an economic development incentive agreement for an expansion project the meeting referred to as "Project Peania." The incentive would pay the company a share of added ad valorem taxes generated by new investment over a five-year period.
Ashley Boick, the county economic development director who presented the item during a public hearing, said the company anticipates total investment "to exceed $20 million and create 50 new full-time jobs." Boick described the proposed grant schedule as annual payments equal to 20% of…
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