By Blake Jackson
Bipartisan legislation aimed at supporting economic growth in Evansville is making its way to the governor's desk. The bill, known as Senate Bill 787, seeks to facilitate a partnership between city leaders and agricultural cooperative CHS for the establishment of a new soybean processing facility, contributing to job creation and economic activity.
SB 787 involves a one-time exception to state statutes that typically limit tax incremental financing districts to 12 percent of the total equalized value of taxable property. Given that the proposed CHS project would surpass this limit, the bill allows for this exception, paving the way for the project to become a reality.
Led by bipartisan sponsors Sen. Mark Spreitzer, Rep. Clinton Anderson, Sen. Howard Marklein, and Rep. Todd Novak, the legislation received approval from the state Senate on Feb. 13 and recently passed the Assembly. The next step is for Gov. Tony Evers to sign it into law.
Rock County, where Evansville is located, is the leading soybean producer in Wisconsin. The anticipated CHS facility is poised to process 70 million bushels annually, marking a significant 50% increase in the state's overall soybean processing capacity upon completion.
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Categories: Wisconsin, Government & Policy