Allen County Redevelopment Commission news release regarding the final B.F. Goodrich TIF reimbursement payment:
Final Payment Made on BFGoodrich TIF Commitment
Funds have been invested back into tire manufacturing plant
Allen County, Indiana (February 26, 2021) — The Allen County Redevelopment Commission has presented a final payment to the BFGoodrich plant in Woodburn that closes out a long-standing financial commitment to the tire manufacturing facility.
Richard Beck, Allen County Commissioner and president of the Redevelopment Commission, handed a check for $32,356 to plant manager Terry Redmile during a ceremony on Thursday.
In 2002, the Redevelopment Commission approved the creation of an Economic Development Area and Tax Increment Financing district around the BFGoodrich facility. The following year, the commission entered into an agreement with the company to reimburse them from the property taxes collected in the district for investments made at the plant. The maximum benefit of the agreement capped at $1.65 million was reached and a final payment was approved by the commission in January.
Through the years the county has supported the company’s investment in real property improvements and equipment at the plant through other incentives like real and personal property tax abatement.