An economic development agreement with Meridian Manufacturing approved in October by the Storm Lake city council will be amended.
The agreement called for 105-thousand dollars paid to Meridian through annual tax increment payments… based on the building of a 300-thousand dollar storage building and the creation of 35 new full-time employees. City manager Jim Patrick says Meridian is proceeding with plans for the new building and also intends to hire 35 to 40 new employees… but doesn’t want to commit to that many jobs for five years. He says the agreement will be changed to reflect 20 new positions.
The city council voted to rescind the previous agreement… and will hold a public hearing on a new agreement at their February 16th meeting.