The Town of Parker Council recently approved a sales-tax incentive in order to secure Gander Mountain as a new business in town.
According to the Parker Chronicle, the council approved the tax-incentive agreement worth $700,000 at a meeting last month. This sort of agreement was used to sweeten the deal a bit since Gander Mountain was considering other nearby locations for its store.
How does it work?
“The agreement stipulates that Gander Mountain will receive a rebate of 50 percent of building permit fees and construction use taxes and a rebate of nearly 50 percent of sales tax for a period not to exceed five years,” the newspaper explained.
Basically, the assistance comes out of the revenue of the store, not the town’s general fund.
The new store will be 57,000 square feet and create about 60 full-time job positions.
This local update courtesy of your Parker Community Expert.