“We want to make sure we don’t strangle the goose that lays the golden egg,” Morris said. MIDA usually imposes a 6% energy use tax on its developments, but this time they rapidly agreed to set it at 0.5%. Morris said, the project will generate estimated $100 million annually once it reaches full capacity. The agreement also cuts a deal on property taxes.
“We want to make sure we don’t strangle the goose that lays the golden egg,” Morris said. MIDA usually imposes a 6% energy use tax on its developments, but this time they rapidly agreed to set it at 0.5%. Morris said, the project will generate estimated $100 million annually once it reaches full capacity. The agreement also cuts a deal on property taxes.