Facts box: Specifics, deal by deal
- July 14, 2013 - 10:47 AM
In the past year, Shakopee has used a variety of economic incentives to attract large companies.
• Seattle-based SanMar Corp. gets $2 million in tax-increment financing to build a distribution center.
• Faribault-based Trystar Inc. gets a $1 million tax abatement for an office and manufacturing facility.
• Shakopee approves a tax subsidy of almost $600,000 as part of a larger state and local financial package for Emerson Process Management Rosemount. The division of a St. Louis-based multinational will use the funds to help it expand into a large empty building near Valleyfair.
Other deals are still in the works:
• Datacard Group would move almost 700 jobs from its offices in Minnetonka. The city is considering a possible nine-year tax abatement on the increased taxes it would receive after Datacard acquires and renovates a building.
• Compass Datacenters is another serious prospect. In April the City Council voted to offer the Dallas company a package that includes a 50 percent rebate in property taxes — up to $251,000 worth over nine years — in exchange for 40 new jobs. Susan Feyder
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