The Urban Renewal Agency in Twin Falls, Idaho, has outlined an incentive package for Jayco Inc. that involves leasing a facility to the Middlebury, Ind., RV manufacturer for the production of travel trailers and fifth-wheels.
In late October, Jayco announced plans to begin production in early 2005 of its Jay Flight towable line at an existing 154,000-square-foot facility in Twin Falls, initially adding 50 jobs to the local economy and increasing to 80 jobs by next October 2005.
According to the Times-News, the agency’s incentive package would include purchase of a former Norco Windows property on Washington Street South in Twin Falls for $2.4 million.
Jayco would sign a 10-year lease on the property – paying property taxes on the building and land – and have the opportunity to buy the property outright for $1 when the lease expires. Lease payments would be the same as Urban Renewal’s loan payments.
A $500,000 federal Community Development Block Grant would serve as the down payment for the building, and Urban Renewal would kick in $50,000 of its own money to help pay for the property, said Dave McAlindin, the city’s economic development director.
The agency would finance the purchase through a loan from D.L. Evans Bank, he said.
Jayco had earlier said the move was designed to increase production capacity and also position the company in closer proximity to a growing Western U.S. towable marketplace.