Greg Hildebrand from Marshall County Economic Development Corporation presented information to the Plymouth City Council about two local companies seeking tax abatements.
Monday evening Hildebrand said Composite Technology Assemblies, more commonly known as Oasis has expanded the facility to produce their number one selling tub enclosure. Hildebrand said, “The demand for building materials caused them to be overwhelmed and they couldn’t keep up with production.” The expansion includes the use of a couple of robots in the production process. Other equipment includes a monorail conveyor, spray equipment, ventilation, and mixing equipment.
Oasis is seeking a $2 million real property and $2 million personal property tax abatement with a 7-year phase-in.
The first step in the Tax Abatement process is to approve a resolution declaring the property to be within an Economic Revitalization Area.
The second Tax Abatement request came from Plymouth Molding Group. Hildebrand explained that PIDCO is building a new 40,000-square-foot facility on Commerce Street for PMG. The company will be purchasing $600,000 in new equipment that will add 6-new production lines. Their request is for a 7-year phase-in personal property Tax Abatement.
The City Council unanimously approved resolutions declaring the property for Oasis and Plymouth Molding Group to be in an Economic Revitalization Area. They will conduct public hearings on the requests at their next meeting on Monday, July 25th.
