Boone County Commission approves tax break for food processing facility

COLUMBIA, Mo. (KMIZ)

The Boone County Commission signed off Thursday on an agreement for a 75% property tax break over 10 years for a new food processing factory in Columbia.

The commission approved an agreement for Chapter 100 bonds for Swift Prepared Foods, which plans to build a $200 million facility that will create more than 250 jobs. Officials announced the project in November.

Companies use the money from Chapter 100 tax breaks to purchase equipment and to build or improve facilities. The 325,000-square-foot Italian meats plant will be built on an 80-acre site on Paris Road.

Under the agreement, annual starting wages will be more than the Boone County average, which is more than $42,000 a year. The company must maintain a minimum of 150 qualifying jobs to keep its full tax break.