Public Hearing Set on a $590,000 Tax Break for Emerson Electric
The Shakopee City Council set a public hearing for Feb. 12 on whether to give Emerson Electric a nine-year property tax abatement.
Shakopee residents will have a chance to weigh in on whether the city should give Emerson Electric a nine-year property tax abatement on a new 500-person factory, the Minneapolis-St. Paul Business Journal is reporting.
A public hearing has been set for 7 p.m. on Feb. 12. The cost of the abatement would total $590,000.
Emerson Process Management is considering the former ADC Telcommunications building as a site to expand its operations. The Shakopee location is one of multiple sites the business is considering—including a location in Chihuahua, Mexico.
Emerson would create 500 jobs in Shakopee and occupy 300,000 square feet of the building with plans to expand.
The company has requested an assistance package valued at $6 million. The City of Shakopee and Scott County have been working with Greater MSP to create the incentive package, Community Development Director Michael Leek has told Patch.
If Emerson proceeds with plans for the factory in Shakopee, it will invest about $21 million for land and construction costs, plus $35 million for equipment, City Administrator Mark McNeill told the council Tuesday night, according to the Minneapolis-St. Paul Business Journal.