Local News

Allen County Council set to extend BF Goodrich TIF District

(Photo Supplied/BF Goodrich)

FORT WAYNE, Ind. (WOWO): The Allen County Council is expected to reward a company’s investment in Woodburn.

Last month BF Goodrich announced plans to invest $100-million in new equipment for their Woodburn plant. Now the News-Sentinel reports that the Council will consider extending a Tax Increment Financing, or TIF, District plan that the company got from the County in 2002.

TIF Districts collect revenues from property taxes collected within a set area and would in this case give the money back to BF Goodrich.

If the extension is approved, that would mean the company would stand to receive $1.65-million over the next five years.

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