City approves tax incentives to give business a jolt - KTIV News 4 Sioux City IA: News, Weather and Sports

City approves tax incentives to give business a jolt

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SIOUX CITY, Iowa (KTIV) -

A Sioux City business with major expansion plans is one step closer to making the project reality.

Monday night, local leaders approved Echo Electric's application to the Targeted Jobs Withholding Tax Program.

The company, which employees 22-people, plans to add 13 more jobs.

They also want to build a 45,000 square foot facility in the former stockyards area.

If approved by the state, they'll receive half a million dollars in tax benefits, but officials say local tax payers will also benefit from the company's expansion plans.

"Great for the tax rolls, and for the tax payer to get that land back on the tax rolls," said Marty Dougherty, Sioux City Economic Development Director.

The vacant parcel was once home to the Floyd Valley Packing Plant.

 

 

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