by Alex Vuocolo, Delaware Business Times
The planned redevelopment of the former General Motors plant at 801 Boxwood Road outside Wilmington will produce more than $281 million in annual impact and create 2,100 permanent jobs, according to a report by Econsult Solutions.
Newport-based developer Harvey Hanna & Associates, Inc., which commissioned the study, released the results on Thursday.
“Since purchasing the former GM plant in 2017, Harvey Hanna’s plans for the property have been focused on a singular mission to create thousands of lasting, 21st century jobs for the residents of Wilmington, New Castle County and greater Delaware,” said Thomas J. Hanna, president of Harvey Hanna & Associates. “This study affirms our belief that creating a modern distribution and business campus can help restore this property’s long history as a vital source of employment and a nucleus for the local economy.”
Construction would generate $6.8 million in taxes for the state, and another $7.6 million in annual revenue through personal and business taxes upon completion, according to the study. Red Clay School District and New Castle County will also benefit, with $2.4 million in new property taxes.
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