Owatonna in a horse race to land glass-plant expansion

The city is pitching $4.9 million in tax incentives for Apogee to expand its Viracon factory.The city of Owatonna, Minn., hopes a $4.9 million tax incentive package will be enough to convince Apogee Enterprises Inc. to launch a multimillion-dollar expansion at its glass factory in Owatonna instead of sending the investment to Georgia.Apogee announced this week that it plans to pump $30 million in factory improvements at either its Viracon facility in Owatonna or its glass plant in Statesboro, Ga.

But where the investment happens will largely depend on how much financial support the communities can offer.

And that has sent the city of Owatonna into a whirlwind, as officials rush to finalize millions in tax breaks for Apogee. Such bidding wars between communities are common as companies increasingly lean on public incentives for large corporate expansions.

Read more here.

600450 Owatonna in a horse race to land glass-plant expansion glassonweb.com
Date: 29 January 2013
Source: www.startribune.com

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