Commissioners approved Stonewall contract
Commissioners Monday (Aug. 17) unanimously approved the county’s incentive package for Stonewall Packaging LLC, Packaging LLC, the new joint venture headed by Jackson Paper Co.
Incentives approved include up to $1.3 million in tax exemptions. County Manager Ken Westmoreland Aug. 3 told commissioners that the company is requesting a $32,500 tax exemption for every new job it creates, with a cap at $1.3 million in exemptions. Around 40 new jobs would come with exemptions for the company.
Originally the company had requested $500,000 from the county’s revolving loan fund, which commissioners had tentatively approved May 22. Westmoreland said that request had been rescinded to make way for this new agreement. According to the draft contract, officials will repay Stonewall all the property taxes it owes the county until the agreed conditions are met. For example, should Stonewall hire 40 people, the county would then repay the property taxes each year until the company has been reimbursed a total of $1.3 million.
