Tag: tax abatement programs
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Tax Abatement Programs Encourage Business Capital Investments
Yellowstone County and Billings’ tax abatement programs encouraged $410.8 million of investment in the community in 2020, involving eleven different businesses, supporting $126.7 million in payrolls and granting $3.3 million in tax savings, reports Steve Simonson, Senior Project Manager for Big Sky Economic Development. Those totals include abatements granted to Phillips 66 and CHS. Simonson…
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Abatements Incentivize Business
Since 1994, Yellowstone County and the City of Billings have been giving businesses a boost to start and to grow, through two different tax abatement programs. Originally, local businesses that received the benefit of those programs invested a grand total of $468,784,880 and in 2019 paid out $153,769,851 in salaries. The fact that refineries, Phillips…