Wausau officials on Jan. 24 voted unanimously to allow nearly $5 million in tax incentives to Liberty Mutual, one of Wausau’s largest employers.
The incentive is tied to a $50 million, 150,000-square-foot planned building to house the company’s Wausau employees. The company employs nearly 900 workers here with a total annual payroll of more than $54 million.
Like a tax rebate, Liberty Mutual will recoup up to 90% of the property taxes it pays into a special district for 15 years, as long as the company maintains at least 90% of its Wausau workforce, according to project details.
Construction is expected to begin in the fall, with the building completion slated for early 2019.