Posted: Tuesday, August 19, 2014 --- 5:21 p.m.
STEVENS POINT, Wis. (AP) -- Stevens Point is set to receive a $1 million check from a development company to bring an educational software firm's headquarters to the city.
Stevens Point Journal Media reports that members of the city council applauded themselves and company leaders after they voted unanimously Monday to accept a development agreement with SkyGroup. The deal will bring the headquarters of SkyWard to the Stevens Point industrial park.
As part of a financing arrangement with the city, SkyGroup will spend at least $20 million to develop the property and build a 200,000-square-foot commercial building. In return, the company will receive annual refunds on property taxes until 2033.
The city says the agreement will bring 600 jobs and public transportation to the area.
Copyright 2014: Associated Press
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