Brandt Properties USA LTD has provided “Satisfactory Proof” to the Bloomington Normal Economic Development Council (BNEDC) to qualify for a property tax incentive from McLean County. The company has met requirements described in a 2017 Project Development Agreement between Brandt and the county.
As a result 100 percent of the county taxes for the plant property (payable in 2023) will be abated. Brandt has provided Satisfactory Proof that it has employed 125 full time employees for the calendar year 2022 and at least 150 full time employees during its peak operation period for the calendar year 2022 at wage levels that meet an agreed upon amount.
McLean County Board Chair John McIntyre is pleased that the county has landed industries like Brandt and Rivian.
“That makes an impact on everyone, the economy, for sure and jobs,” McIntyre said. “And now you see it on what’s happening with the housing situation and that’s all positive. That shows that we have made some progress.”
The interesting thing with that concept is that Rivian is now on the tax rolls,” County Administrator Cassy Taylor added. “That in combination with the increased sales in homes, I think we are going to see Equalized Assessed Valuation (EAV) growth again this year. And that will be exciting.”
Brandt’s agreement with the county on tax abatements runs through 2027.
The company’s Bloomington-Normal-Hudson facility is situated on 40 acres of land and produces agricultural equipment for corn and soybean markets in the U.S.,.
