New Andalusia development to benefit from sales tax rebate - WDAM - TV 7 - News, Weather and Sports

New Andalusia development to benefit from sales tax rebate

Posted: Updated:
SOURCE: MGN Online SOURCE: MGN Online
MONTGOMERY, AL (WSFA) -

The City of Andalusia is hoping to use an incentive to help attract new retail through a sales tax rebate. One of the companies is Cenergy Oil & Gas LLC.

Mayor Earl Johnson says the incentive is different for each deal and it has to meet certain specific qualifying criteria like substantial investment by business, creation of significant numbers of jobs, positive impact, and high profile site along with others.

The rebate will be determined by the qualifying criteria factors. Not all of the cities portion of the sales tax will be rebated however. The current city sales tax is 3.5% and only 2% will be rebated.

Cenergy Oil & Gas LLC will benefit from this rebate which will last a period of 5 years. The company is creating more than 30 new jobs to the area and will be investing $1 million in the project.

Copyright 2014 WSFA 12 News.  All rights reserved.