SEDCO approves $1.3M incentive package, more
17 Jul 2024
News and Media
7/17/2024 (Michael Hutchins, Herald Democrat)
The Sherman Economic Development Corp. is prepared to invest more than $1.3 million in bringing a new corn mill operation to Sherman. The SEDCO Board of Directors agreed to offer an incentive package to Lawrence Equipment, Inc. and subsidiary Molinos USA, Inc. for a new production facility in the Progress Park VI development.
In addition to the incentive itself, the economic developer committed to invest more than $6.5 million in road and rail infrastructure that will support the site and potentially other industrial development in the area.
SEDCO President Kent Sharp said SEDCO had been working on the agreement with Molinos since around 2021 when the board agreed to sell the company 30 acres of land for $35,000 an acre. However, the project has proved challenging due to several factors, including the need for rail improvements to service the location.
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