A Chinese company is expected to get a sizable tax break for building a new factory to make subway cars in Springfield, Massachusetts.
The Springfield City Council Monday will consider an agreement with the company planning to build the $95 million dollar factory that would reduce the property tax owed by $10 million over a 10-year period.
Ken Shea, who chairs the council’s finance committee, said the economic benefits to the city from the new factory far exceed the amount of the tax break.
" This is a serious number of jobs. When you figure 200-300 employees averaging $66,000 per year that is a huge amount of money poured into the economy," said Shea.
CRRC USA Rail Corp. purchased land in Springfield to build the factory after receiving a state contract to build new subway cars for the MBTA.
Production at the factory is scheduled to begin in 2017.
