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AMSOIL expansion gets council nods

Several council actions Tuesday night helped pave the way for AMSOIL Inc. to move ahead with plans for a $15 million expansion at its Susquehanna Avenue facility.

Several council actions Tuesday night helped pave the way for AMSOIL Inc. to move ahead with plans for a $15 million expansion at its Susquehanna Avenue facility.

Councilors granted the synthetic oil company an easement for a new rail spur, approved a development agreement and expanded the Winter Street Industrial Park project area to accommodate the expansion.

All 10 councilors spoke up to make the motion to approve the development agreement, which will give the company a $200,000 grant upon completion of the expansion project. Under the agreement, the company is agreeing to create two full-time equivalent jobs with salary and benefits worth a minimum of $12.50 per hour for each of the next five years. The company's ultimate goal is to create 40 jobs.

The project, which more than doubles the size of the facility and blending capacity for the company, is expected to create more than 200 construction jobs during the expansion.

The council also hosted a public hearing to take testimony concerning a city bond issue for the project. The bonds, which AMSOIL is solely responsible for repaying, will give the company $10 million toward the project costs. The tax-exempt bonds are expected to save AMSOIL about $1 million.

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No one spoke for or against city plans to issue bonds for the project. The council approved the bonds in May.

Today, the plan commission takes public testimony concerning the Winter Street Industrial Park. The hearing starts at 3 p.m. in Room 201 of the Government Center.

Shelley Nelson can be reached at (715) 395-5022 or snelson@superiortelegram.com

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