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Support of Tax Back Program Approved for Bekaert Expansion
During the month of July, both the Crawford County Quorum Court and the Van Buren City Council approved a resolution of support for Bekaert's participation in the Tax Back Program. This is an incentive program offered by the Arkansas Economic Development Commission that provides sales and use tax refunds on the purchase of building materials, machinery, and equipment to qualifying businesses that create new jobs as a result of construction, expansion, or facility modernization projects in Arkansas.
Bekaert's expansion will include 50,000 new square feet with an estimated cost of $8.4 million. This will enable Bekaert to add 35 new jobs with an average salary of $37,000. The estimated construction start date is November 2021 with an estimated completion date of April 2022.
"We were thrilled to help with the facilitation of this resolution through the Quorum Court and the City Council on behalf of Bekaert," stated Julie Murray, President & C.E.O. of the Van Buren Chamber of Commerce. "The company is an extraordinary community partner and we are excited about their new expansion. It is going to be so beneficial to our entire region."
