The Plymouth City Council took the final step in the tax abatement process Monday to approve two abatements for the expansion of two local companies.
AK Industries, the producer of sump pumps, sewer basins, and gravity feed septic tanks has been in Plymouth for more than 30 years. They plan a new product line to manufacture larger fiberglass lift stations. Their investment is $320,000 for new manufacturing equipment and 3 new employees.
Jerry Chavez, Executive Director of the Marshall County Economic Development Corporation asked for the Common Council’s support of the resolution declaring the real estate at 2055 Pidco Drive to be within an economic revitalization area for the purpose of a personal property tax abatement.
The second public hearing was held for Composite Technology Assemblies, the former Eagle Craft facility on Markley Drive. Last month Andy Aker told the City Council their company is growing and they recently purchased an additional empty building owned by Don Marohn immediately to the west of the current facility. CTA is expanding its aftermarket molded fiberglass automotive and mass transmit line.
The total expansion project is $1.2 million and includes the purchase of additional real estate and improvement and machinery.
The Plymouth City Council approved a resolution declaring the property to be in an economic revitalization area for a real estate and personal property tax abatement along with a vacant build deduction.