Tax incentive plan for developer passes | Business

Final approval has been made by the Gibson County Council for a $1 million tax increment incentive for Gibson County Warehousing Incorporated.

The Princeton company plans to use the money to expand its 200,000 square foot cross docking building by another 100,000 square feet which is leased by Toyota.

To help secure the investment and benefits, Gibson County provided GCWI with up to $1 million or 20% of the construction costs whichever is lesser, in a forgiveable loan from the TIF District.

The expansion should be completed in June and will add around 60 jobs.