ATHENS, Ala. – The Athens City Council voted 4-0 on Monday to approve an economic development expansion project and two tax abatements.
The expansion project of Indorama Ventures Sustainable Solutions, LLC, at 1764 Wilkinson St., will add 100,000 square feet and 60 employees according to Bethany Shockney, President & CEO of the Limestone County Economic Development Association.
The council also approved two tax abatements of non-education taxes for sales/use taxes during construction and property taxes. According to the resolution, during the construction of the expansion Indorama Ventures Sustainable Solutions, LLC will save around $436,790 and the schools will receive $648,093. The resolution also stated the property tax abatement will save the company $903,833, but they will be paying the schools $1,104,684 over a ten-year period.
“We are pleased that [Indorama Ventures Sustainable Solutions, LLC] have selected Athens to expand rather than expanding this portion in another state at one of their other locations,” said Shockney.
Athens Mayor Ronnie Marks said this is a great addition to Indorama and the city of Athens.