Jamestown (CSi) The Jamestown\/Stutsman Development Corporation (JSDC) Board of Directors has unanimously approved participating in a tax incentive for the planned CHS nitrogen fertilizer plant at Spiritwood.<\/p>\n
The annual incentive payment by the JSDC to CHS totals $4.7 million over 20 years and is about the amount CHS would have been eligible for as a New Jobs Incentive Fund loan from the JSDC. That loan would have been repaid to the JSDC from the North Dakota income tax withheld from employees at CHS.<\/p>\n
The JSDC will pay $235,000 each year for 20 years to CHS as a rebate on the $3.235 million payment in lieu of taxes CHS will make annually. The payment in lieu of taxes amounts to about 44 percent of the full property tax payment.<\/p>\n
Stutsman County will pay 90 percent of the $235,000 with the city of Jamestown covering 10 percent. Collections to the county economic development fund will increase by about $100,000 with the payment in lieu of taxes collection from CHS and tax collections from associated developments such as a natural gas pipeline and an electrical power substation.<\/p>\n
CHS announced last Friday that it\u2019s going ahead with the construction of a $3 billion plant to produce nitrogen farm fertilizer at Spiritwood.<\/p>\n
Construction is expected to begin this fall, and the plant is expected to begin operations in the first half of 2018.<\/p>\n","protected":false},"excerpt":{"rendered":"
Jamestown (CSi) The Jamestown\/Stutsman Development Corporation (JSDC) Board of Directors has unanimously approved participating in a tax incentive for the planned CHS nitrogen fertilizer plant at Spiritwood. The annual incentive payment by the JSDC to CHS totals $4.7 million over 20 years and is about the amount CHS would have […]<\/p>\n","protected":false},"author":3,"featured_media":27116,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25,14],"tags":[],"class_list":["post-54185","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-jamestown"],"_links":{"self":[{"href":"http:\/\/csinewsnow.com\/index.php?rest_route=\/wp\/v2\/posts\/54185","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/csinewsnow.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/csinewsnow.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/csinewsnow.com\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"http:\/\/csinewsnow.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=54185"}],"version-history":[{"count":1,"href":"http:\/\/csinewsnow.com\/index.php?rest_route=\/wp\/v2\/posts\/54185\/revisions"}],"predecessor-version":[{"id":54186,"href":"http:\/\/csinewsnow.com\/index.php?rest_route=\/wp\/v2\/posts\/54185\/revisions\/54186"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/csinewsnow.com\/index.php?rest_route=\/wp\/v2\/media\/27116"}],"wp:attachment":[{"href":"http:\/\/csinewsnow.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=54185"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/csinewsnow.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=54185"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/csinewsnow.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=54185"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}