Dingley Press in line for TIF extension in Lisbon
Dingley Press, which last year completed a $20.7 million expansion at its plant in Lisbon, received an extension of its tax increment financing agreement with the town that was due to expire this year.
The Times Record reported that the Lisbon Town Council approved a five-year extension of the TIF, which was created in December 1993 when Dingley embarked on a $6 million expansion and then extended in 1998 when Dingley expanded again and added 100 jobs and in 2011.
The council approved the extension just before a March 30 deadline, the newspaper reported, but added an amendment allowing sidewalk rehabilitation and construction to be part of the plan for how the TIF funds are used.
The amendment will go to a public hearing on May 15, according to Lisbon’s municipal website.
Dingley Press, the fifth largest catalog printer in the United States, added a new printing press, co-mailer and manufacturing improvements as part of its investment. The Times Record reported that although it won't create new jobs, it’s expected that the expansion will enable Dingley to maintain its workforce of about 347 full-time workers.
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