What? There's a life-science industry in Columbia?

Although I am a journalism student mostly interested in the arts, science does interest me. I think I might be the only person who actually misses chemistry. That's why this front-page article caught my attention. "Incentives could spur life-science industry growth," was an interesting article with one huge flaw. All the article says about the incentives is that they are "property-tax incentives to businesses looking to expand." I'm sorry, I'm a dumb reader. What does that mean? Do they pay less property taxes every year? For a certain number of years? Is it an initial cost reduction? Be specific. I might not be the best journalist, but I do realize that that's one of the cores of journalism. The article focuses mainly on Analytical Bio-Chemistry Laboratories, a life-science research and development center just outside of Columbia. It seems that they are expanding. They are currently looking for a place to go. They'd like to stay in Boone County, but have been offered bids elsewhere. Some people say the proposed tax incentive plan is catered to them, others think the plan just happens to cover the area in which ABC is located. At any rate, the article talks only about ABC, not even mentioning other life-science companies. I think that might have added to the story. My real question, however, is this: I've lived in Columbia for at least a year now, and I had no idea that ABC was located anywhere near us. How much does the facility affect Columbia. The article says it employs over 200 people. It does not say how many people would be hired if the lab expanded here, nor does it say that the lab in Columbia will close if ABC relocates. I'm sure it's not uncommon for major companies like ABC to have several facilities.