Calhoun County Commissioners approve tax abatement for Formosa Plastics

The Calhoun County Commissioners have approved a tax abatement agreement with Formosa Plastics, which is expected to lead to 20 new permanent jobs.

The tax abatement had been under discussions since 2014, but was tabled for unknown reasons. The abatement will help Formosa ease the burden of costs associated with installing a new Propane Dehydrogenation Unit.

The unit is expected to be a three hundred million dollar investment, although it is unclear how much will go back to the county.

The tax abatement will take effect by early 2020.