Elgin: St. Louis Aerospace Manufacturer Signs Development Pact for $4M+ Factory
Feature Photo: An aerial view of the proposed site, within the city’s business park, off Roy Rivers Road. Image: Google Streets.
Posted: 9-21-2021
by Art Benavidez
Elgin (Bastrop County) — The city recently entered into an economic development agreement with a Missouri aerospace manufacturer for the development of a manufacturing facility.
The agreement calls for the city’s Economic Development Corporation to sell a 5-acre lot in the city’s business park–located off Roy Rivers Road–to St. Louis-based Carr Lane Manufacturing.
The city will offer a $272,250 rebate, along with $100,000 to cover property taxes and closing costs. Carr Lane would in turn construct a 50,000 square-foot manufacturing facility.
The facility will be constructed at an estimated cost of $3.9 to $4.4 million, with Carr Lane also installing approximately $3.25 million in new machinery.
In exchange, the company will also employ 65 full time employees with an hourly wage between $13 to $20 and keep a minimum of 65 employees for four years.
Sean Garretson, with the economic development firm Pegasus Planning and Development, represented Carr Lane Manufacturing during the incentive process.
VBX Project ID: 2021-6B30
art@virtualbx.com
