City and County Incentives Approved for CSP
February 25, 2016
The Common Council for the City of Huntington has approved a tax abatement for Continental Structural Plastics (CSP) as the Company evaluates their Huntington facility for a major expansion. Local incentive offers are a part of the due diligence research process under consideration by CSP.
The City Council met on February 23, 2016 and approved both an Economic Revitalization Area (ERA) designation and accompanying Statement of Benefit (SB-1) forms from CSP. The potential project described to the City in the SB-1 forms represents the largest industrial development investment in Huntington in over 9 years and would make CSP one of the largest employers in the local industrial sector.
CSP is considering other locations, however, Company officials have expressed a desire to do the project in Huntington if all the numbers work. A decision on the project is anticipated in the near future.
The Huntington County Board of Commissioners have also approved an incentive to encourage company officials to choose Huntington.
The decisions of both the City and County officials were made unanimously.