An Illinois cosmetics company and a developer got approvals Monday for tax breaks from the city of Greenwood.
Kentucky-based Industrial Developments International is building a 670,000-square-foot distribution center for ULTA Beauty of Bolingbrook, Ill.
Both companies got a 10-year property tax abatement from the city. The property tax breaks are on the building and the equipment.
Members of the city council gave first and final approvals of the tax breaks with 8-0 votes. City council member Bruce Armstrong was absent. The council will conduct a public hearing at its next meeting.
Industrial Developments plans to build the cosmetics distribution center this year in Greenwood’s Southpoint Business Park, and ULTA will lease the building. The developer plans to spend between $27 million and $33 million on constructing the facility, and ULTA plans to spend between $41 million and $51 million on distribution and information technology equipment.
ULTA expects to hire about 530 full-time employees over the next five years to staff the distribution center, which will supply hair care products, perfumes and cosmetics to 400 retail stores and fulfill online orders.