The Economic Development Corporation of Jefferson County, AR (EDCJC) acknowledged the forgiveness of the Incentive Payment pursuant to the terms of the Agreement with Tyson Poultry, Inc. at their board meeting held on August 20, 2024.
Tyson Poultry, Inc. entered into said Agreement in 2021 with the EDCJC to offset some of the costs of their new manufacturing project. Tyson Poultry, Inc. satisfied the terms of the Agreement by creating 68 jobs and investing $48,300,000 in capital investment.
The local incentive fund is a financial assistance program provided by the Economic Development Corporation of Jefferson County, AR. The fund is fueled by receipts from a 3/8-cent sales tax approved in 2011 (which sunsetted in 2018) by Jefferson County voters to promote economic development.
Its purpose is to help qualified businesses, currently in Jefferson County or looking to locate in Jefferson County, offset the costs of capital expansion projects, and create jobs in the county. The incentives contract is structured as a performance agreement with the number of full-time primary jobs created or retained, average wage, capital investment, and/or other specific performance measures. The use of the funds is governed by Arkansas Code A.C.A. § 14-175- 101
