New Albany City Council to vote on incentives for Sazerac
Last week, Buffalo Trace producer Sazerac announced plans to invest $66 million in the old Pillsbury plant to make it a bourbon processing center.
NEW ALBANY, Ind. (WDRB) -- The New Albany City Council is expected Monday to consider giving more than $1 million in tax incentives and grants to a company that wants to buy the Pillsbury Plant that shut down two years ago.
Last week, Buffalo Trace producer Sazerac announced plans to invest $66 million in the old Pillsbury plant to convert it into a processing, blending, packaging, and distribution center.
The Pillsbury Plant closed in 2016 after operating in New Albany for more than 55 years and has been vacant ever since.
The Indiana Economic Development Corporation offered Sazerac up to $900,000 in development tax credits and up to $150,000 in training grants. Those incentives are only available after Indiana workers have been hired. The company plans to eventually hire 110 people.
The agenda for New Albany City Council's regularly scheduled meeting Monday night is expected to include a vote on those local incentives. According to a Sazerac official, those incentives also include a $2.9 million property tax break.
Sazerac will not be able to move forward unless the council votes yes, but company officials are confident the city will approve the incentives.
If the plan is approved, construction would start later this month. The plant could then open as early as November.
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