Mountaire Farms' tax incentives top $2.3 million for expansion project
Oct. 24, 2016
by Joel Crews
SILER CITY, NC – More than five months after Mountaire Farms Inc. announced its acquisition and planned renovation of the former Townsend poultry plant in Siler City, Chatham County commissioners approved tax incentives valued at $1.5 million for the project. The approval will allow the company to receive a property tax refund over a six-year period after the renovations are complete. An additional property tax incentive worth $800,000 was also approved by the Siler Town Council, pushing the total incentives to approximately $2.3 million.
The company plans to move forward with the project soon, which includes the plant renovation in addition to expanding its hatchery in Mt. Vernon and construction of a feed mill by transforming an existing building near the plant. The company expects the plant to be up and running by February 2018.
“The increasing demand for our products requires us to expand our production and we believe North Carolina is the perfect place for that growth, Paul Downes, Mountaire’s president and CEO, said in a statement when announcing the acquisition of the Townsend plant.