VANCE, Ala. (AP) - Tuscaloosa County officials have approved larger tax breaks for Mercedes-Benz to help offset expansion costs at the automaker’s plant in Vance.
The Tuscaloosa County Industrial Development Authority agreed Thursday to increase the value of tax abatements granted to Mercedes to about $28.1 million. That’s up from $12.5 million in tax abatements for the automaker that were approved in 2011.
The Tuscaloosa News reports (https://bit.ly/1AoIY3Q ) the extra tax breaks were awarded to Mercedes after it spent $670 million expanding its Alabama plant - more than double the $289 million the company initially estimated it would spend. Officials say the expansion added about 1,000 new jobs.
The authority also approved an additional $1.1 million in tax abatements for Mercedes to help offset the cost of site preparation work for potential future expansion.
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Information from: The Tuscaloosa News, https://www.tuscaloosanews.com
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