The Bourbon Town Council took the first step in the Tax Abatement process Tuesday evening to bring a new industry to town.
CT Polymers, LLC has petitioned the Town Council to find the property commonly known as 12340 Elm Road the former Omni Source area within the corporate limits of the Town of Bourbon. The Town Council passed a resolution declaring the property to be within an economic revitalization area.
The evidence presented at the public meeting on October 12th is for personal property and real property tax abatement. The Town of Bourbon estimates $3,800,000 in personal property investment and $2,510,000 in real property investment.
The application estimates 24 new employee positions will be created through the investment with an average hourly wage of $20.
The Bourbon Town Council passed the resolution with a 2 to 0 vote with councilman Les McFarland being absent from the meeting.
The Bourbon Town Council will conduct a public hearing on the Tax Abatement request and consider a declaratory resolution on November 9th at 6 p.m. during the Town Council meeting.