OSAGE, Iowa --- The Osage City Council has approved a development agreement with an Osage business who will receive property tax rebates not to exceed $26,000 per year over the next 10 years.
Set up through tax increment financing, the agreement gives A to Z Drying incentives to build two new structures, including a packaging facility totaling 48,000 square feet on its property on the southeast part of Osage. A to Z will maintain its work force as part of the agreement.
The total investment in the new A to Z facilities is estimated at $3.6 million.
The project will be essential for the company's future relationship with Valent BioSciences, which plans to build a $144 million facility next to A to Z over the next three years.