Mead Johnson Nutrition will receive $3.5 million in local incentives for an upcoming $35 million expansion of its Evansville plant.
The Evansville City Council on Monday night unanimously approved a 10-year property tax phase-in on equipment and land.
The city is also providing a $10,000 grant for training assistance that's applicable only to Evansville residents hired in the first two years of the project expansion.
Mead Johnson produces infant formula and child nutrition products. In October, the business announced it's investing $35 million to expand its child production line at the facility located at corner of St. Joseph Avenue and the Lloyd Expressway.
During the first expansion phase, the company will hire 30 full time employees with an average hourly wage of $29, but that will be whittled down to 18 employees in 2017 during the second expansion. The company expects to transition the other 12 employees to other manufacturing lines, according to Mead Johnson officials.
Hiring is expected to begin in 2016, with expanded production to begin in 2017.
In addition to local finance incentives, the Indiana Economic Development Corp. has offered Mead Johnson as much as $125,000 in conditional tax credits and as much as $125,000 in training grants.
According to Growth Alliance for Greater Evansville, the expansion is expected to have an annual economic impact of $16.4 million.