(ST. JOSEPH, Mo.) St. Joseph city council is expected to approve millions of dollars in bond money to expand Cryovac Manufacturer.
If approved, the plastic food packaging products manufacturer will receive $23 million in bonds.
"It's always a good sign when reinvestment is taking place with existing companies," said Clint Thompson, the Planning and Development Director. "That shows that St. Joseph is a good place to do business and has a good workforce."
Cryovac would receive a 75% abatement on all personal property taxes for five years, followed by 50% for the next five.
Approval from the city will bring support to a plan for industrial development that will bring 12 new jobs to the company.
The decision will be made during the city council meeting on October 19.