By Hannah Gonzales Published: May 31, 2022 at 4:04 PM CDT
DENISON, Texas (KXII) -Denison City Council has approved a 50 percent tax abatement for Ruiz Foods.
Tony Kaai, President of the Denison Development Alliance states that Ruiz Foods is one of the largest manufacturers and employers in the city of Denison.
To qualify for the incentive, Ruiz Foods will invest over $30 million dollars into the plant, within two phases.
The first phase is estimated to include $16,660,000.
The second phase is estimated to be a remainder of $13,640,000.
Kaai adds, “we’re glad that we’re able to help and incentivize them to continue to grow and operate out of Denison, TX”.
The money will help expand and modernize the plant by adding automation.
However, Kaai ensures that this move will not downsize the staff, as the plant provides 11 hundred jobs in Denison.
The contract has also been sent to Grayson College and the Denison Chamber of Commerce and awaits approval.
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Originally published at https://www.kxii.com/2022/05/31/ruiz-foods-invest-30-million-into-denison-plant/