After the announcement from Apogee Enterprises regarding investments planned for one of its Viracon plants in Minnesota or Georgia, the city of Owatonna, Minn., has decided to offer a USD 4.9 million tax incentive package if it is chosen.
The city of Owatonna, Minn., will be offering a USD 4.9 million tax incentive package to convince Apogee Enterprises Inc. to launch a multi-million-dollar expansion at its Viracon architectural glass factory in Owatonna instead of sending the investment to Georgia.
Apogee announced that it plans to invest USD 30 million in factory improvements which are expected to take the next 18 months and aim to “improve efficiencies and allow Viracon to offer the new products required to strengthen its competitive position.”
However, where the investment happens will largely depend on how much financial support the communities can offer.
And that has convinced Owatonna officials to finalize tax breaks for Apogee.
“They were looking for proposals from different entities,” said Owatonna Mayor Thomas Kuntz. “Anytime a company wants to expand … it becomes an international competition.”