Monday evening the Bourbon Town Council passed a resolution confirming a Tax Abatement for CT Polymers at 12340 Elm Road in Bourbon.
On May 9th the Bourbon Town Council declared the real estate for CT Polymers to be within an Economic Revitalization Area.
CT Polymers is a plastics compounder. They are adding to their capacity by installing new equipment including extrusion and size reduction equipment along with adding automated packaging lines and logistical equipment for distribution. The investment is $8 million in manufacturing equipment, $300,000 for research and development equipment, $750,000 for logistical distribution equipment, and $50,000 for information technology equipment. CT Polymers plans to add 30 additional employees.
The Bourbon Town Council approved a 7-year $10 million Tax Abatement on real and personal property for CT Polymers.