The city council in Sherman, Texas, has approved a tax abatement for a Tyson Foods plant expansion expected to cost $30 million. The agreement is for six years at 50% per year
The vote came on the heels of a $1.5 million expansion incentive from the Sherman Economic Development Council, announced in November. Tyson Foods would get the $1.5 million upon completion of the project.
The Springdale-based meat giant said in November it was looking at expansion plans in Sherman which would add 80,000 square feet of space to its plant.
“We are exploring a potential upgrade of our material handling facility at our Sherman, Texas, case-ready plant as part of our strategic plan to maintain efficiency and better support the plant’s production capabilities,” Tyson Foods spokesman Derek Burleson told Talk Business & Politics.
The company is expected to begin the expansion project this month. It is not anticipated to lead to additional jobs beyond the 1,700 employees already employed at the plant, the company said.