Estimated read time: Less than a minute
This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.
ATLANTA (AP) — A tax break worth nearly $2 million was recently approved for a plane owned by one of filmmaker Tyler Perry's companies in Georgia.
The Atlanta Journal-Constitution reports that Cobb County's development authority approved the $1.8 million tax break. The deal would include the county authority refinancing Perry's jet with a $35.3 million bond package and a 10-year tax abatement plan.
Cobb County officials say the plane at McCollum Filed will create 10 high-paying jobs. Officials say schools would end up receiving $733,000 in new property taxes from Perry's plane.
Despite the incentives, the newspaper reports the county government would receive $400,000.
Under the code name "Project Meatloaf," Perry's firm would register and base the Embraer executive plane in Cobb County.
___
Information from: The Atlanta Journal-Constitution, http://www.ajc.com
Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
