Incentive for Coda battery plant headed to council  Read more: Incentive for Coda battery plant head

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Incentive for Coda battery plant headed to council Read more: Incentive for Coda battery plant head

Columbus Business First – The city of Columbus is readying to put up nearly $33 million in incentives for a California company looking to build a battery-making plant that could employ up to 1,000.

Up for emergency consideration at Columbus City Council’s Monday meeting is a three-part incentive package valued in the long-term at up to $32.6 million for Lio Energy Systems, a joint venture between Santa Monica, Calif.-based Coda Automotive Inc. and Lishen Power Battery of China. That includes a 10-year, 75 percent property tax break on improvements; a 12-year, 65 percent Jobs Creation Tax Credit; and an eight-year, 35 percent Jobs Growth Incentive.

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