04 January 2012 22:33 [Source: ICIS news]
HOUSTON (ICIS)--The likelihood of municipal taxes could be eliminated for Bayer's industrial park in West Virginia, which could become the site of an ethane cracker, a local city councilman said on Wednesday.
Nitro city councilman Dave Casebolt said the proposal is to annex property surrounding Bayer’s industrial site to prevent the plant from being annexed by a municipality and subject to city taxes.
Bayer’s CropScience plant and industrial park is between the two cities of Nitro and Dunbar.
The proposal would also eliminate the risk of taxes for a company considering the construction of an ethane cracker on Bayer’s land.
Bayer spokesman Bryan Iams said the company continues to market land at its industrial park. The company is in serious discussions with companies interested in leasing or buying the available land.
Eliminating the risk of this tax would help attract companies to the land, Casebolt said.
In 2011, Casebolt said Dunbar attempted to annex the Bayer Industrial Complex, which would have subjected the property to municipal taxes.
The Nitro city council’s vote will take place on 17 January, and Casebolt expects it will pass.
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