Sherman offering incentives to SunnyD for $30 million expansion
SHERMAN, Texas (KXII) - Sunny Delight is the latest business Sherman is offering incentives to for expansion.
The city said SunnyD is considering more than $30 million in facility extensions, enough to add two production lines to the facility.
So far, it’s received incentives from the Sherman Economic Development Corporation and the city.
SEDCO offered a $900,000 dollar, and the city put an eight-year tax abatement on the table, which would write off one-third of its tax bill on new equipment.
The city says that the number will decrease year by year.
“We think this is a fantastic deal for the city of Sherman,” said Nate Strauch, the spokesperson for the city of Sherman. “Of course, so much of the news over the course of the last year has been about Texas Instruments and GlobalWafers. Of course, those are really exciting projects. But Sherman has a long history of industrial development, and our employers that are already here are just as important, if not more important than those that are yet to come.”
The city said the project could generate more than $640,000 in property taxes over eight years, and SunnyD would save about $270,000.
Sherman will have an official decision about whether or not SunnyD takes the incentives and expands in early October.
Sherman expects the development to bring in 75 new jobs.
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