New Costco wins with tax incentive

Black Local and National News

News / Black Local and National News 25 Views

The Village of Plainfield is making Costco an offer it cannot refuse. The Plainfield Village Board approved the sales tax revenue agreement with Costco, which could net the wholesale giant $2.5 million in sales tax rebates. The agreement starts when Costco opens its doors to the public or Dec. 1, 2022, whichever comes first. Jake Melrose, economic development manager for the village, said the sales tax rebate is proposed at a 50/50 split of sales tax produced with a maximum of $2.5 million or 15 years, whichever comes first. Melrose estimates the agreement will be paid in full by the fifth...