Author: Joliet City News

The Joliet City Council has approved a property tax abatement to support a new manufacturing facility by Hyundai Translead, a project expected to bring more than 1,200 jobs and redevelop a vacant industrial site on Youngs Road. The facility will occupy the former Lion Electric site, which has remained largely inactive since the company shut down the Joliet operations in 2024. Under the agreement, the City Council approved a 50 percent property tax abatement over five years, matching the same incentive previously granted to Lion Electric. The updated cumulative value of the abatement is estimated at $327,725, based on current…

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