Lisbon’s largest employer has gotten a boost from town councilors in its efforts to secure jobs.

With a tax increment financing agreement with Dingley Press due to expire this year, the town council OK’d an extension of that pact for another five years.

The agreement designates future property tax revenue to economic development projects. It was first created in December 1993 to assist in a $6 million expansion of the Dingley facility at 119 Lisbon St. The original agreement saw 50 percent of the increased assessed value of the property returned to Dingley, while 50 percent went to the general fund. The agreement was extended in 1997 as Dingley expanded once again and added 100 jobs.

The catalog printing company is planning a $ 20.7 million project to that will help keep up with the competition. The investment will go towards a new printing press, co- mailer, and manufacturing improvements. Although it won’t create new jobs in the area, it will allow Dingley to maintain its current workforce of about 347 full-time workers at the Lisbon facility.

The extension was brought before town councilors at Feb. 20 meeting. The decision was made by councilors at that time to extend the agreement to meet a March 30 deadline, but councilors wanted to take the opportunity to further define how TIF money can be spent.

The amendment, added to the agreement with the extension, allows sidewalk rehabilitation and construction to be part of the plan for how the funds are used. A public hearing is set for the next town council meeting May 15.

In other business, councilors approved Thomas Martin Jr. as the new public works director for a starting salary of $80,000.

chris@timesrecord.com