ECONOMIC DEVELOPMENT

Two governmental entities have given their support as part of an industry incentive package being formulated for a prospective industry in the Cabool area.

The Cabool board of education gave its approval last week, and the Texas County Commission gave a letter of support for an enhanced enterprise zone, which gives a 75 percent abatement for 10 years on city and county real estate taxes.

The prize? A $50 million project by a potential unnamed employer that would hire 90.

Other economic development incentives include a Missouri program — Chapter 100 — that offers a 75 percent abatement on personal property taxes.

The Cabool City Council is expected to approve a resolution on Monday.

According to estimates from Cabool, if successful, an additional $150,000 annually in tax revenue would be generated. 

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