LITTLE ROCK, Ark. (AP) — The Carroll County Quorum Court judge has authorized incentives that will help a Springdale-based meat processor build its first new plant in years.
Arkansas Business reports that the $136 million Tyson Foods Inc. plant will be built across the street from another one of the company's plants in Green Forest, with a corridor connecting the two.
The Carroll County Quorum Court unanimously voted Tuesday to advise County Judge Sam Barr to grant the company a 10-year tax abatement and authorize 10-year revenue bonds for the project. Tyson also qualifies for an InvestArk sales and use tax credit from the Arkansas Economic Development Commission.
Commission spokesman Scott Hardin said that the company qualifies for the tax credit because it has been in the state for at least two years and is investing at least $5 million in new construction, expansion or modernization.
"This incentive is a really strong retention tool," Hardin said. "It encourages the companies that are already in the state to not only remain here, but to continue to grow their operations, and Tyson Foods is the state's third largest employer."
Tyson officials said the project will bring about 85 jobs to the county, where it already has more than 2,600 employees. It has about 23,000 employees across the state.
Tyson spokesman Worth Sparkman said the new plant will process partially cooked foods, most of which will go to food service customers.
Green Forest Mayor Charles Reece said the company plans to begin construction in July. Tyson officials hope to complete the project in late 2017.
