The Bibb County, Ga., school board has delayed a vote to approve a deal between Kumho Tire USA and the city until next month.
In 2008, the county agreed to reduce the taxes on the plant to help make Bibb an attractive site for Kumho’s first U.S. plant. As part of the tax break deal, Kumho will rent the factory site from the Macon-Bibb County Industrial Authority instead of buying it. The company agreed to make 20 years of payments in lieu of taxes.
Because the proposed deal requires payments in lieu of taxes to the school system, local government and Macon-Bibb County Industrial Authority, each group must sign off on the deal. The county government approved the deal early last week.
If approved, the school system would receive $9 million in payments over 20 years instead of taxes. While the board seems in favor of the deal, they decided to delay the vote in order to answer more questions, the Telegraph reported.
Kumho made news in July when it announced that it would resume work on the $500 million facility, which was delayed due to the recession.