The Washington City Council approved tax abatement as an incentive for Eagle Railcar to locate on the city’s west side.
The City and the Daviess County Economic Development Foundation have been working with the Indiana Economic Development Corporation to help the company which will occupies the old B&O property to receive approximately $2.8 million in state and federal incentives. The City Council agreed to match the incentives by declaring the old shops at the site to be an Economic Revitalization Area and granting Eagle Railcar a 100% ten-year property tax abatement up to the match in value of the state and federal funding.
Eagle Railcar Services President Mark Walraven of Texas explained the company’s focus:
Walraven added that the company hopes to have well over 100 people on the payroll next spring
Eagle Railcar has already spent about $2.5 million to clean up soil contaminated with chemicals, heavy metals, and other environmental hazards left over from more than a century of industrial use.