The Longmont City Council gave its final approval Tuesday night to a $6.5 million economic development incentives package for the J.M. Smucker Co.’s proposed $340 million manufacturing facility.
Council members voted unanimously for the ordinance detailing the agreement between the city and Smucker’s, which plans to construct its facility inside a Weld County portion of southeast Longmont, near East County Line Road and Ken Pratt Boulevard.
City officials say the project is expected to create at least 250 full-time jobs in its initial phase and another 250 jobs in a second phase.
The city’s $6.5 million incentives package includes rebates for building permit and plan review fees; rebates for Longmont’s sales and use taxes on construction materials; partial rebates of the business personal property taxes the city expects to collect from Smucker’s; waiver of an escrow contribution for extending Fairview Road; and rebates of money the company would otherwise be required to contribute for greenway improvements.
Read the .
