County OKs tax-back program for dry ice manufacturer

The Union County Quorum Court held its final meeting of the year Thursday, where present Justices of the Peace unanimously approved a resolution to allow Continental Carbonic Products, Inc. to participate in the Arkansas Tax-Back program.

The approval of the resolution also served as an announcement for the manufacturing facility, which is expected to begin operations in 2022, per Brandon Barnette, economic development project manager for the El Dorado-Union County Chamber of Commerce.

County Judge Mike Loftin said dirt work has begun at the site of the manufacturing plant, which is located next to El Dorado Chemical Company at 706 El Dorado Chemical Road. Barnette said the hiring process will start around September,

2021.

The Tax-Back Program is administered through the Arkansas Division of Finance and Administration and to participate, businesses need the endorsement of a local governing body. They must have also made an investment of at least $100,000 and enter into a job creation program with the Arkansas Economic Development Commission.

The Quorum Court unanimously approved such an

endorsement for Clean Harbors Environmental Services in September and for Clean Harbors, LLC in November.

Loftin said the company plans to hire 60 employees at an average hourly wage of $29.20. The annual payroll will total out to $3,645,000 million, he said.

“The total cost of the project (is) about $25 million,” Loftin said.

Continental Carbonic is based in Decatur, Illinois; among the over 50 other dry ice facilities operated by the company through the United States, one other is located in Arkansas, in Fort Smith.

According to the company's website, it has “enjoyed an unbroken record of profitability since its inception and finished 2018 with more than $180 million in annual sales” and employs about 1,050 people across the U.S.