Monday evening the Plymouth Common Council took the first step in the Tax Abatement process for two projects by declaring certain real-estate to be within an Economic Revitalization Area.
Bomarko, Inc.,a food and medical grade flexible packaging company has been in Plymouth for 55 years. The company currently has 120 employees and offers an average hourly wage of $27.
Jennifer Hewitt, Bomarko Controller said the company would like to expand their business potential and is looking at a $5 million capital investment with a new press and building addition. She indicated that Bomarko is looking at another site for the project and locally they are hoping to make the Plymouth site more economically feasible.
Jerry Chavez, President and CEO of the Marshall County Economic Development Corporation said Bomarko would invest $2 million in the building and $3 million in machinery. They also pledge to hire an additional 20 employees over the next 5 years. He said, “This is not only the local leadership in Plymouth trying to create a long term opportunity for themselves here in this community. It’s also an opportunity for this leadership to invest in their business their self.”
The second request came from Marshall County Life Center through the MCEDC. Chavez said the request is for the Early Learning Childhood Center which will be leased by a for-profit company.
Chavez asked the city council to consider the stand-alone building for a Tax Abatement, especially if the assessor considers the property to be a commercial business and not a non-profit even though United Way and the Marshall County Community Foundation will be houses in the same facility.
The Plymouth City Council approved both request for the first step in the tax abatement process although Councilman Gary Cook voted against the Marshall County Life Center request saying, “I just felt that it was not necessary considering what we’re providing them.”
The Common Council will conduct public hearings on the request at their next meeting on October 22nd.
