Close to a million dollars in tax incentives are keeping a growing Janesville business from moving down south.
Economic Development Director Gale Price says the City is providing United Alloy with $962,000 in land and forgivable loans in exchange for a 100,000 square foot expansion and 66 new living wage jobs.
Price says without the assistance from the City the company likely would have moved down to Texas to be closer to the end users.
In addition to the TIF agreement approved by the City Council on Monday night, United Alloy is taking advantage Industrial Development Revenue Bond Financing which will allow the company to finance up to $10 million at no liability to the City.
