Lordstown council to vote on TJX abatement Friday night

LORDSTOWN

If all the approvals are granted in the coming weeks for the proposed 1.25 million-square-foot TJX/HomeGoods distribution center for Ellsworth Bailey Road, Lordstown schools stand to gain about $400,000 in tax revenue each of the next 10 years.

The village will receive about $150,000 per year for 10 years, according to numbers generated by school district and village officials.

One hurdle for the project comes Friday night, when village council is expected to vote on whether to approve a 75 percent, 10-year property-tax abatement the company has requested. If council approves the abatement, it goes to Trumbull County commissioners for final approval.

A tax abatement, also known as an enterprise-zone agreement, is a way to encourage development by offering taxes to a company lower than it might pay elsewhere.

The company said in October the enterprise-zone agreement is needed for the Lordstown site to be “competitive with other alternative sites being considered.”

Through the abatement, the company would receive lower property taxes. It would not reduce the income taxes paid by workers during construction and after the facility opens. The company estimates it will employ 600 people in 2022, rising to 1,000 in 2024.

Read more about the matter in Friday's Vindicator or on Vindy.com.