Property tax incentives introduced today to City Council by Mayor Rahm Emanuel would support industrial redevelopment projects for food companies in the Pullman Industrial Corridor.
A Class 6(b) property tax incentive would help the Keebler Co. operate its 267,000-square-foot manufacturing complex at 750 E. 110th St. The estimated $1.9 million in tax savings over the 12-year renewal period would enable the company to invest up to $6 million in new packaging equipment and add up to 50 new jobs to its 363-person workforce over the next five years.
A pair of Class 6(b) property tax incentives on behalf of Dutch Farms Inc. would help the company and its affiliates retain 415 jobs by lowering the property taxes on 30 acres of land at 10823 S. Langley Ave. and 700 E. 107th St. Taxes on the properties, which are occupied by Dutch Farms and related businesses including Pullman Sugar, Wooden Shoe Logistics, Good Foods and DaBecca Natural Foods, would be reduced approximately $1.2 million over the 12-year incentive period.
The Class 6(b) incentive encourages the redevelopment of industrial properties by lowering the Cook County tax rate for eligible projects over a 12-year period.
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