US (IN): Monsanto plans $30M research facility in Greenwood
The 140,000-square-foot facility would be used to process, package and distribute corn, soybean and cotton seeds for testing, as well as store farm and agricultural equipment, the documents said.
The facility will employ six to 10 people with a salary range of $60,000 to $90,000. An additional 70 temporary workers will be employed when the facility opens, though that number will drop to 20 by 2020, the documents said.
Monsanto is requesting a 10-year, $1.6 million tax break on $28.7 million of research, manufacturing and information technology equipment. The company would pay $923,000 in personal property taxes on the equipment during that time period. The company will pay no property taxes in the first year of the break, and will gradually shift to paying the full taxes after 10 years, the documents said.
The tax break is necessary in order to make the Greenwood site financially comparable with other locations, the documents said. The incentive would need to be approved by the city council and the Greenwood Redevelopment Commission.
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