The De Soto City Council unanimously approved two tax increment financing project plans totaling 605 acres in the former Sunflower Army Ammunition Plant, clearing a path to provide local incentives to Panasonic Energy Co. Ltd. The first, 309-acre plan area will house a $4 billion, 4,000-job electric-vehicle battery plant, which the Japanese electronics conglomerate this month announced it would build in Kansas, after months of state competition with Oklahoma. The second, 296-acre plan area sits just south and could support a potential $4 billion second phase, should Panasonic opt to expand. Both areas are southeast of 103rd Street and Dual Drive, within a larger 5,877-acre TIF district De Soto approved in January so the future property tax increment could be redirected toward new site infrastructure.
Source: Kansas City Business Journal – The Business Journals
