A company that plans a $73-million expansion at their facility on north Columbia’s Route B is seeking property tax abatement on the expansion.
939 the Eagle’s Mike Murphy, who publishes Comobuz, reports Schneider Electric’s planned expansion will create 240 new jobs, according to the company. The Columbia school board has voted this week to grant the abatement. The plan will need ultimate approval from Boone County commissioners.
Comobuz’s Murphy reports the proposed abatement is 50 percent for ten years. That means instead of paying about $3.6 million dollars in property taxes over the next decade, Schneider Electric would pay about $1.4 million. Mr. Murphy also reports the city of Columbia has utilized Chapter 100 to help Kraft Heinz in 2015 and 2024, Dana Light Axle in 2016, Aurora Organic Dairy in 2017, American Outdoor Brands in 2017, Swift Foods in 2021 and EquipmentShare in 2022.
