CPS Board approves Chapter 100 bonds for American Outdoor Brands
Regional Economic Development Inc. (REDI) presented information to the Columbia School Board on Monday night, regarding a request for abatement of property taxes from American Outdoor Brands Corp.
The School board unanimously approved the chapter 100 bonds.
The company announced earlier in March that it would be building a $55 million distribution center in Boone County.
The company is requesting a 10-year abatement of 50 percent of the personal and real property taxes on an investment in the equipment and real estate. The project will consist of plant construction and equipment, and is estimated to be for a total of $55 million.
The company anticipates the creation of 150 new jobs at an annual average wage over $45,000 by the end of the third year.
Officials explained that AOB, in conjunction with Missouri Partnership, checked 85 sites in 10 states and settled on Missouri.
Columbia Public Schools representative Darin Preis at a previous meeting, expressed his concerns of funding for the school district and said he wanted to warn them that abating too much property tax could affect the district’s ability to fund more schools to keep up with the population growth in the future. Preis told ABC 17 News after the meeting that there were more positives than negatives.
