The Knox County Council is considering a major tax abatement for Terre Haute-based Sunrise Coal Co. The Vincennes Sun-Commercial reports the company plans to invest $60 million to expand its Oaktown operations and add up to 60 jobs.
The expansion, which will include new machinery and equipment, is the result of a new rail loop constructed at a mine in Gibson County, according to the publication. Todd Davis, director of compliance and financial reporting for Sunrise Coal, told the council the new rail line allows the company to connect with a larger market.
Davis says the Oaktown mine employs nearly 300 people with an average hourly wage of $27 per hour. The company is proposed a 10-year tax abatement, which would save $1.7 million.
Council President Bob Lechner says the council will need to hold a public hearing on the proposal. A potential timeline for a vote was not given.
You can read more about the project in the Sun-Commercial by clicking here.