The Joplin Globe, Joplin, MO

Local News

June 19, 2012

Kraft tax incentive gets initial OK in Springfield

SPRINGFIELD, Mo. — The Springfield City Council has given first-round approval to tax incentives to spur a $55 million upgrade at the Kraft Foods plant.

Council members on Monday officially said they intend to offer Kraft the tax break, which would cut in half the property taxes the company would owe on new equipment for 10 years.  The council is expected to vote on a final plan by the end of July.

City officials and Kraft plant manager Todd Sherman said the incentives could determine whether additional product lines come to the Springfield plant, which employs about 975 people.

The Springfield News-Leader reports Sherman says the upgrade won’t bring more jobs to Springfield but will preserve those already at the plant.

 

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