Novelis hopes to soon begin construction of an aluminum sheet manufacturing facility on US 79 in Guthrie and Todd Fiscal Court approved two ordinances Friday morning that are part of starting that process.
An ordinance was approved on first reading that codifies an inter-local agreement between the county and City of Guthrie. Magistrates also approved an ordinance that will allow up to $8.25 million in bonding for buying land and other incentives related to the Novelis project.
Todd County Attorney Mac Johns explains that all new tax revenue gained by the city and county through the Novelis project will be put into a pool to service the bond debt.
The bond can’t be called for at least 10 years, but Johns is hopeful the county can pay off the debt sooner than 20 years.
He says the benefit to the county will be new jobs during construction and after completion, and many other ancillary effects of such a large project.
Johns says an exact timetable hasn’t been announced on when ground will be broken, but it’s expected to be soon. It’s also quite possible there could be a second phase to the Novelis project, though that hasn’t been confirmed.
Guthrie and Todd County are applying for a $2 million community development block grant to extend natural gas and electrical infrastructure to the construction site, which is near the railroad overpass.