WINONA, Minn. – The Port Authority endorsed an often-used tax scheme to subsidize WinCraft to build a 120,000-square-foot expansion on the Far Est End industrial park. The vehicle for the subsidy is a through tax-increment district financing, in which, so goes the calculation, the economic growth from a new business will offset forgiven taxes. The Wincraft TIF proposal next needs City Council. approval. WinCraft said the new plant and warehouse will create 15 jobs paying $15.50 per hour within two years. WinCraft cited a consultant’s assessment that the market value of the property will increase more than $7.7 million as a result. According to the draft, the total public cost of the TIF district will be near $1.2 million.
