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September 20, 2016

ImmuCell's gets OK for Portland expansion tax break

Portland's City Council gave the green light to Portland-based animal health products manufacturer ImmuCell Corp. to get $375,000 in local financing through a 12-year tax break to help its expansion, the Portland Press Herald reported.

ImmuCell's 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 for equipment and interior furnishings. It's expected to create 14 new jobs.

However, the expansion financing received the go-ahead without hiring conditions proposed by Mayor Ethan Strimling for TIF projects like ImmuCell's.

The Press Herald reported that the council voted to have Strimling's provisions reviewed by the Economic Development Committee for future use.

Read more

Hiring conditions proposed for Portland TIF projects

ImmuCell records loss despite increase in sales

ImmuCell looks to tax break to aid in Portland expansion

No bull here: ImmuCell moves ahead with expansion plans

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