REMINGTON — Remington Town Council moved to approve a tax abatement for Smith Transport on 10-year real property and eight-year personal property sliding scales.
Jasper County Economic Development Organization Executive Director Stephen Eastridge spoke on behalf of Smith Transport during the town council’s July meeting to convince the council to approve the tax abatement.
Smith Transport had operated in Remington since 1995 until it sold the facility last year to New Jersey-based integrated plastics manufacturer Interplast. The construction of a new facility symbolizes Smith’s commitment to Remington and Jasper County for the future, he said.
Eastridge presented to the council a packet of information that had previously been discussed prior to the meeting. The $10.7 million investment was broken down into $9.7 million in real property, $215,000 in personal property, and $778,000 in property acquisition. The council moved to approve the tax abatement with no opposition.
Eastridge shared a computerized plan with the council noting how the remainder of the 117 acres surrounding Smith Transport can be mapped out and utilized for potential development.
“Having this planned out for potential sites is just going to help unlock the other parcels for Remington,” he said. “Now that we have a site design, we have been working on mapping the utilities and retention ponds and looking to the future of the site development. This will make it easier to market for Remington, and seamless for a company who is looking to develop to see what the town has to offer.”
The town will use $100,000 in Tax Increment Finance (TIF) funds for public infrastructure upgrades allowing the Smith Transport facility to be built, as well as enable future development of the US 24 corridor.
“Remington is excited to be a partner with Smith Transport to create local jobs and opportunities in the town,” Susie Flickner, president of Remington Town Council, said. “We are appreciative of them reinvesting in us and are grateful for their commitment to being in Remington, and look forward to a long-lasting and productive relationship.”
In other business:
The Remington Town Council is extending its utility shut off until Aug. 14 to remain compliant with Gov. Eric Holcomb’s executive order, according to Town Attorney Rebecca Goddard.
At the end of June, state utility regulators extended the moratorium on utility disconnections until Aug. 14, two weeks later than utility companies proposed, but months earlier than consumer advocacy groups called for.