Boone County signs off on tax breaks for gun and outdoor goods company

1 year 9 months 2 weeks ago Thursday, April 05 2018 Apr 5, 2018 Thursday, April 05, 2018 4:35:00 PM CDT April 05, 2018 in News
By: Eric Graves, KOMU 8 Reporter
loading

COLUMBIA - The Boone County Commission is giving some tax breaks to a gun distribution plant.

The commission has signed off on a Chapter 100 plan and bonds for the American Outdoor Brands project. The bonds will be issued in the principal amount not to exceed $23 million.

American Outdoor Brands is building a site on 210 acres along Route Z north of I-70. 

Under Chapter 100 the facility, construction materials and certain tangible personal property may be purchased tax exempt by the county and then leased back to the company.

No public comment was made at Thursday's hearing.

Presiding Commissioner Daniel Atwell said the Chapter 100 is essential to the construction of the gun distribution center.

"Without the Chapter 100, there wouldn't have been any project at all," he said.

Atwell said the commission has come to an agreement for American Outdoor Brands to receive these tax reductions.

"They have to fulfill certain promises in order to receive these benefits," he said. 

The bonds that will be used to pay for the materials needed will be paid back only by the revenue of the distribution plant.

"The county assumes no responsibility for payment of these bonds, that's one of the nice things about this kind of project," Atwell said. "We can assist in major projects without taking any risk."

If the distribution plant does not produce the expected revenue and is unable to pay the bonds then the county would not be forced to pay the bonds. 

"It's a complicated process and it actually works very well in certain circumstances," Atwell said.

Liz Sharp, a representative with American Outdoor Brands, said the distribution center should be finished by the end of 2019 and is already hiring.

More News

Grid
List
BELLE - The Maries County Sheriff addressed concerned Belle residents Thursday after the town closed its police department earlier this... More >>
1 hour ago Thursday, January 23 2020 Jan 23, 2020 Thursday, January 23, 2020 10:19:00 PM CST January 23, 2020 in News
MID-MISSOURI - A multi-day storm system continues in central Missouri, reaching a crescendo Thursday night through Friday with snow accumulations... More >>
4 hours ago Thursday, January 23 2020 Jan 23, 2020 Thursday, January 23, 2020 7:07:00 PM CST January 23, 2020 in Weather
JEFFERSON CITY - After more than a year and a half of sitting empty, and with holes throughout, a Jefferson... More >>
5 hours ago Thursday, January 23 2020 Jan 23, 2020 Thursday, January 23, 2020 6:16:00 PM CST January 23, 2020 in News
ASHLAND - Winter weather brings more than just frosty temperatures. It brings the unexpected. Especially when parents and grandparents are... More >>
6 hours ago Thursday, January 23 2020 Jan 23, 2020 Thursday, January 23, 2020 5:06:00 PM CST January 23, 2020 in Top Stories
JEFFERSON CITY - This winter has brought above-average levels of snow and ice to mid-Missouri, and now, crews across the... More >>
7 hours ago Thursday, January 23 2020 Jan 23, 2020 Thursday, January 23, 2020 4:18:00 PM CST January 23, 2020 in News
COLE COUNTY - Construction on Route 54 south of Jefferson City will begin on Monday, January 27. The project is... More >>
8 hours ago Thursday, January 23 2020 Jan 23, 2020 Thursday, January 23, 2020 3:32:00 PM CST January 23, 2020 in News
COLUMBIA - The Columbia Police Department is asking for the public's help in identifying a man accused of assault. The... More >>
9 hours ago Thursday, January 23 2020 Jan 23, 2020 Thursday, January 23, 2020 2:42:00 PM CST January 23, 2020 in News
A replat of property at the northwest corner of Cherry and Hitt streets to accommodate plans for a six-story... More >>
9 hours ago Thursday, January 23 2020 Jan 23, 2020 Thursday, January 23, 2020 2:21:00 PM CST January 23, 2020 in News
COLUMBIA - Jim Lehrer, the retired PBS anchorman and a graduate of the MU School of Journalism, died Thursday... More >>
10 hours ago Thursday, January 23 2020 Jan 23, 2020 Thursday, January 23, 2020 12:59:00 PM CST January 23, 2020 in News
COLUMBIA - Boone County Prosecuting Attorney Daniel Knight is objecting to a defense request for change of venue in... More >>
11 hours ago Thursday, January 23 2020 Jan 23, 2020 Thursday, January 23, 2020 12:22:00 PM CST January 23, 2020 in News
WASHINGTON — U.S. Senator Roy Blunt commended President Trump’s announcement that the Environmental Protection Agency has finalized its Waters of... More >>
11 hours ago Thursday, January 23 2020 Jan 23, 2020 Thursday, January 23, 2020 12:16:00 PM CST January 23, 2020 in News
WASHINGTON (AP) — The Trump administration on Thursday published new visa rules aimed at restricting “birth tourism,” in which women... More >>
12 hours ago Thursday, January 23 2020 Jan 23, 2020 Thursday, January 23, 2020 11:15:00 AM CST January 23, 2020 in News
COLUMBIA - Too much rock salt on your driveway might hurt your yard in the spring. According to the... More >>
12 hours ago Thursday, January 23 2020 Jan 23, 2020 Thursday, January 23, 2020 11:01:00 AM CST January 23, 2020 in News
SPRINGFIELD - The first untested sexual assault kits recorded through Missouri's SAFE Kits Initiative will be collected at the Springfield... More >>
12 hours ago Thursday, January 23 2020 Jan 23, 2020 Thursday, January 23, 2020 10:50:00 AM CST January 23, 2020 in News
COLUMBIA - Lucky's Market has confirmed that the Columbia location will remain open as they begin closing various stores around... More >>
13 hours ago Thursday, January 23 2020 Jan 23, 2020 Thursday, January 23, 2020 10:34:00 AM CST January 23, 2020 in News
BEIJING (AP) — Chinese authorities Thursday moved to lock down three cities that are home to more than 18 million... More >>
13 hours ago Thursday, January 23 2020 Jan 23, 2020 Thursday, January 23, 2020 9:56:00 AM CST January 23, 2020 in News
JEFFERSON CITY - 192 medical marijuana dispensary facilities will receive their licenses Thursday, according to the Department of Health and... More >>
14 hours ago Thursday, January 23 2020 Jan 23, 2020 Thursday, January 23, 2020 9:06:00 AM CST January 23, 2020 in News
KANSAS CITY, Mo. (AP) — Kansas City Royals star catcher Salvador Perez is about to become a U.S. citizen.... More >>
15 hours ago Thursday, January 23 2020 Jan 23, 2020 Thursday, January 23, 2020 8:03:53 AM CST January 23, 2020 in Sports
Columbia, MO
Broken Clouds 33°
12am 32°
1am 32°
2am 32°
3am 32°