Bipartisan legislation to support the city of Evansville is on its way to the governor’s desk. The bill will enable city leaders to bring jobs and economic activity to Evansville through a partnership with agricultural cooperative CHS on a new soybean processing facility.
Senate Bill 787 grants a one-time exception to state statutes. It limits tax incremental financing districts to 12 percent of the total equalized value of taxable property. The proposed CHS project alone would exceed this limit. SB 787 will allow for an exception that will help make the project a reality.
Authors of the bill say it’s common for the legislature to make these types of exceptions for projects like this.
Sen. Mark Spreitzer, Rep. Clinton Anderson, Sen. Howard Marklein, and Rep. Todd Novak led the bipartisan legislation. The state Senate passed SB 787 on Feb. 13. This week, the Assembly passed the bill. Now, it’s off to Gov. Tony Evers for his signature.
“Rock County is the top producer of soybeans in the state of Wisconsin, and the entire state will benefit from this processing plant in Evansville,” says Spreitzer. “When it is completed, the proposed CHS facility will be able to process 70 million bushels each year – representing an almost 50% increase for the state of Wisconsin’s total soybean processing capacity.”
See past coverage on the project: https://www.midwestfarmreport.com/2023/08/01/evansville-potential-chs-soybean-facility/
