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Council approves $500,000 TIF incentive on first reading for Sustainia BioGlycols project
Summary
Tippecanoe County Council approved ordinance 2026-13-CL on first reading 7-0 to provide a forgivable $500,000 TIF-funded loan to Sustainia BioGlycols contingent on job and wage benchmarks; second reading scheduled in June.
The Tippecanoe County Council voted 7-0 on first reading May 12 to approve ordinance 2026-13-CL, authorizing up to $500,000 from Southeast Industrial TIF revenues as an incentive for the Sustainia BioGlycols project.
County staff explained the payment would be structured as a forgivable loan, to be forgiven if Sustainia meets performance benchmarks. Staff described the benchmark discussed in the presentation as roughly 180 jobs paying at least about $46 per hour and said the project paperwork estimates roughly a $300 million investment and a 40,000-square-foot facility. The incentive will be administered through a loan agreement and a revenue note the project may draw on for payments.
Councilman Murray moved the ordinance; Councilman Richard seconded. The motion passed on a roll-call first-reading vote (Jennifer: I; Vernon: I; Basham: I; Doolan: I; Murray: I; Richard: I; Carson: I; Hamilton: I). A second reading is scheduled for June.
