Dow announces plans for Styrofoam plant in Idaho

Dow Chemical Co. said Wednesday that it plans to build a 60,000-square-foot plant in Burley that will make Styrofoam-brand insulation.

The publicly traded company, with nearly 50,000 employees around the world, expects to begin construction in the coming months and complete the plant by the end of 2017.

Dow will receive a tax break from the state worth $617,000 if it meets job-creation and average-wage thresholds.

Dow will pay an average annual wage of $65,300 and spend $20 million building the plant, according to the agreement. The company will receive 24 percent reimbursement of its sales, income and payroll taxes for nine years if it meets the terms of its agreement.

Dow, which reported 2015 sales of $49 billion, manufactures 6,000 product lines, including products in packaging, electronics, water, coatings and agriculture. The company distributes products in 180 countries.

The company said the plant would help it serve customers in the western U.S. and Canada. Construction will create about 80 temporary jobs, Dow said.