FORT SMITH - The Fort Smith City Board of Directors is expected to look into a measure that would assist Silgan Manufacturing with their property taxes over the course of a decade.
The plastics giant announced earlier this year they would start construction on a brand new factory and facility along State Highway 45, and now the board will consider floating $38 Million in bonds that would cut the tax obligations in half.
According to a memo from City Director Carl Geffken, the project is bringing 150 jobs to the area, which pay an average of $20 an hour. Silgan would be charged with making any and all debt service payments as part of the agreement.
The meeting will take place at 6:00 PM Tuesday in the Fort Smith Public Schools Service Center at 3205 Jenny Lind Road. You can read the board’s agenda in its’ entirety by clicking here.