Bill calls for studying tax incentives

In 2009, Greenwood was working to lure a major outdoor retailer and the development promised to come with it to an area along County Line Road.

Greenwood taxpayers paid $130,000 to hire attorneys and a financial consultant to create an incentive package for Cabela’s, including covering the costs of a loan to build a store and infrastructure work. Eventually, the company decided not to build a store, and Greenwood was stuck with attorney and financial consultant fees. The city also ended up spending $640,000 on a road project recommended in a traffic study Cabela’s requested.

Greenwood and Franklin regularly give tax breaks and cash incentives to businesses to encourage them to expand or hire locally, and not all deals have been success stories.

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