NEWS IN BRIEF Tax breaks offered if Tyson plant grows
Tax incentives of up to $600,000 have been offered for a proposed $50 million expansion of a Tyson Foods-owned Hillshire Brands Co. plant in Alexandria, Ky., state officials said.
The Kentucky Cabinet for Economic Development approved two projects on Thursday for an expansion scheduled to create 16 jobs initially, with a projected target of 26 jobs in 10 years, according to the Kentucky Economic Development Finance Authority.
The Kentucky Business Investment Program filed a preliminary approval report that would award up to $400,000 to Tyson Foods if the target of 26 new jobs with an average hourly wage of $28.30 is met. A separate report cited a recovery amount of $200,000 for building costs.
The incentives are part of the state’s bid to win the project for northern Kentucky if parent company Tyson Foods decides to move forward, said Jack Mazurak, communications director for the Kentucky Cabinet for Economic Development.
The Alexandria plant has been in operation since 1984.