A former newspaper printing plant reportedly is being developed into a large meat-processing facility in Highland, Ill.
Korte Meat Processing — which sells cured and packaged meat products online and at its retail store in Highland — plans to spend $8.6 million on the purchase and renovation of a building in which The Wall Street Journal was once printed, the Belleville News-Democrat reported.
The Highland City Council last week voted to approve a new business district with a 1% sales tax, to be reinvested in the development, according to the newspaper. It expands the existing district to include a park and 34 pieces of property, including land newly annexed into the city limits, the News-Democrat said.
An incentive agreement is capped at $1.7 million, or 20% of the total cost, with actual reimbursements based on 75% rebated of the 1% sales tax. The city will also rebate up to $15,000 in permitting fees.
Dow Jones moved out of the plant in March, the newspaper said.