County gives $32,356 check to BFGoodrich
ROSA SALTER RODRIGUEZ | The Journal Gazette
The BFGoodrich plant in Woodburn and the Allen County Redevelopment Commission have ended a successful 20-year relationship.
In 2002, the commission approved the creation of an Economic Development Area and a Tax Increment Financing district, or TIF district, around the plant to encourage its development.
TIF districts allow taxes collected from the increase in value of land when developed to be reinvested in the district, typically in infrastructure improvements.
The maximum benefit of the agreement, capped at $1.65 million, was reached recently, and a final payment was approved by the redevelopment commission in January.