July 5, 2016
ImmuCell looks to tax break to aid in Portland expansion
The Portland-based animal health products manufacturer ImmuCell Corp. (NasdaqCM: ICCC) is requesting a tax break from the city that will be used to help pay for a $3 million expansion at its Riverside-area campus.
The Portland Press Herald reports that if the 12-year deal gets the go-ahead, it would provide $375,000 in local financing for the expansion, which is expected to bring an additional 14 jobs to the city.
The expansion project has a price tag of $17.5 million, with $3 million of those funds being used for the physical 12,625-square-foot expansion and the remaining $14.5 million being used for equipment and interior furnishings, the Press Herald reports.
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