DCOA Approves $500,000 Incentive for Coca-Cola
february 24, 2009
A $500,000 incentive payment to help the local Coca-Cola plant upgrade equipment at its Abilene plant should help ensure the plant's presence here for years to come, Richard Burdine said Tuesday. Burdine, assistant city manager for economic development, assessed the plant's future after the Development Corporation of Abilene's board awarded the three-year grant to the bottler on condition that it invest $5 million in the upgrade project.
The planned upgrades include a lab facility and a syrup room, Burdine said.
The improvements will position the Abilene plant to bottle specialty products, such as coffee, in Coke bottles, he said.
The payment schedule will be: $200,000 one year after DCOA and Coca-Cola finalize their agreement, $150,000 in the second year and again in the third year after the deal is struck.
Burdine said the deal won't add to the plant's employment, but the bottler intends to maintain its 200-plus work force. The improvements will add to the local property tax base, he said.
By Jerry Daniel Reed
© Abilene Reporter-News
