SEDCO $500K land incentive approved for 903 Brewers
11 Aug 2021
8/11/21 (Michael Hutchins, Herald Democrat)
903 Brewers is getting some help in its efforts to build a new brewery along FM 1417. Sherman Economic Development Corp. has agreed to pledge an incentive valued at about $500,000 towards the company’s new project.
The agreement that will provide a site for the new facility was unanimously approved by SEDCO Tuesday. Under the terms, SEDCO will sell 903 Brewers five acres of land for the new site at just $1 per acre.
“We valued the land at close to $100,000 an acre, but it will be effectively conveyed to them for $1 an acre,” SEDCO President Kent Sharp said. “As far as the incentive, we aren’t doing any cash — just the acres.”