DAKOTA CITY, Neb. (KTIV) -- Big bucks and a big investment could be coming to Dakota City, Nebraska.
What city officials are calling a "new major industry" is looking at setting up shop in that town, bringing in hundreds of jobs and a serious economic boost.
The city won't tell us what the industry is, but they are saying it's all part of their first phase of a project called Dakota City Redevelopment
Acres and acres of opportunity in Dakota City and the town plans to use them.
According to the minutes from a recent planning and zoning meeting... Dakota City is trying to entice a "unnamed industry" to open doors in the town.
"A major industry of 850 people coming to Dakota City with a estimated payroll of $25 million dollars," says Dakota City Manager Bob Peters.
It's all a part of phase one of the Dakota City Redevelopment plan. The project calls for the city to purchase 230 acres here... the land South of Roth industrial park.
"It creates a great opportunity not only for the industry that may be interested but for other industries as well," says Peters.
City documents say some of that land will then be given to the "unnamed industry" as a enticement to locate locally. "Phase one" then calls for TIF money to be collected from the business to pay back some of that cost to the city.
"Phase one cost is about six point five million dollars and the way that TIF works is that money that a industry would otherwise pay for taxes would goes to a fund as opposed to the tax base," says Peters.
City papers also go so far as to say this new business will be up and running by September 2011 after investing about 90 million dollars in development. As for the what it is and what it does, the question remains.