TEXARKANA, Ark. (AP) - Texarkana’s Board of Directors has endorsed a tax incentive to help bring jobs to the city.
The Texarkana Gazette (https://bit.ly/2gG4Y1w ) reports the board voted Monday to endorse a state tax break to help defray the cost of Union Tank Car Co. refurbishing the former General Electric Railcar Repair Services Corp. plant.
The tax credit is part of the Arkansas’ Tax Back program, which provides a one-time refund of sales and use taxes on the purchase of building materials, machinery and equipment.
Union Tank expects the renovated facility to employ at least 20 people. The company plans to invest about $8 million overhauling the plant to equip it for cleaning, lining and coating of tank cars.
City manager Kenny Haskin says he expects the Miller County Quorum Court to vote on the incentive Dec. 19.
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Information from: Texarkana Gazette, https://www.texarkanagazette.com
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