[03/18/03]Supervisors approved a tax exemption Monday for International Paper on more than $7 million in additions, saying such inducements are important to keep jobs in Warren County.

Wayne Irwin, accounting specialist for the IP mill on Highway 3 near Redwood, said the exemption on improvements and equipment worth $7,540,943.38, is really an abatement since the company will still pay school taxes.

District 4 Supervisor Bill Lauderdale has said if a business meets the state’s criteria, the board will issue the exemptions.

Cooper Lighting, a manufacturer of lighting products on 5035 U.S. 61 South, was granted a $2,453,315 exemption and Anderson-Tully Veneer Mill, a manufacturer of hardwood flooring products at 1735 Washington St., was granted a $27,256,136 exemption in December.

IP received the exemption based on improvements and expansions the mill made in 2002. The mill makes linerboard and dates to 1967 when it became one of the first large industries to locate in the area. A directory lists nearly 400 employees at the plant, often praised for its safety and environmental records.

District 3 Supervisor Charles Selmon said the board gives tax abatements to businesses because of the economic value an abatement has on the community.

“When you can provide or keep jobs in the community, that stimulates growth,” he said.

Irwin said International Paper will still pay about $1.2 million in property taxes.

Supervisors will meet again at 9 a.m. Monday.