Over the years the residents of Johnston have watched the DuPont Pioneer campus expand and change. The City of Johnston and DuPont Pioneer are now working on a development agreement to support the construction of a 4,965 square foot expansion to the Krug Complex – located on the north side of NW 62nd Avenue. The project involves a $1,300,000 capital investment and includes an addition to the insectory and other improvements such as technology and equipment. The project is a continuation of an existing project which includes updates to several other facilities on the Johnston campus.
City staff has recommended that tax increment financing (TIF) be awarded in the form of a forgivable loan, which would be provided in a lump sum once the improvements are constructed and the actual value of the project is determined. It is anticipated that the project would result in an increase in taxable value of $607,275, and be eligible for a property tax rebate of up to $48,000.
At their meeting on October 19, the Johnston City Council set a November 2 meeting date for a public hearing on the development agreement.
Follow the link below for more information on this expansion.
DuPontKrugExpansion