WINFIELD, W.Va. -- An Australian company purchased land in the Putnam Business Park after commissioners approved a payment-in-lieu-of-taxes deal last month.
The deal grants the company a 20-percent tax deduction on real property for 20 years.
Ludowici LLC has locations in Chapmanville and Wytheville, Va., among others, and specializes in mining, quarry, infrastructure, and industrial and water equipment, according to the company's website.
Putnam commissioners approved the tax break saying the company would bring in at least 70 jobs. Commissioner Steve Andes announced Tuesday that a company had purchased the land in Fraziers Bottom, but would not confirm the name of the business.
Documents in the County Clerk's office revealed Ludowici purchased about 11 acres from the county Development Authority on Aug. 2 in the business park along the Kanawha River. The amount paid for the land was not disclosed in the deed because it's being transferred from a public corporation and is therefore exempt from an excise tax.
In July, County Attorney Jennifer Scragg Karr told commissioners the estimated $8 million facility would require extensive excavation and reinforcement measures because of its riverfront location.
"[The tax break] will help recoup the costs [the company will pay] to put the facility there," she said previously.