Officials of East Moline, IL, have approved up to $20 millionin tax increment financing (TIF) to allow Triumph Foods of St. Joseph, MO, to proceed with construction of their second pork packing plant in the United States.
The votes by the city council approved a series of ordinances that allow the designation of a TIF district, location of the project in the city's Gateway Industrial Park, and provide for the TIF aid for off-site expansion of city water and sewer treatment facilities, extension of water and sewer lines to the plant and on-site improvements.
R. Patt Lilly, chief administrative officer of Triumph Foods, says TIF allows Triumph to proceed with efforts to obtain permitting for the 115-acre tract of land projected for the plant.
Plans are to purchase the property this spring, with site work to potentially begin this summer, he says. The proposed new facility is anticipated to begin operations in January of 2009.