Monday evening the Plymouth City Council took the first step in the two-step Tax Abatement process for a request from Viking Paper at 1001 PIDCO Drive. The first step is declaring the property to be within an Economic Revitalization Area.
Greg Hildebrand, CEO of the Marshall County Economic Development Corporation told council members that Viking Paper will be adding a new product line and investing $7.8 million in new equipment.
Hildebrand needed to clarify a couple of items on the application. He said the current payroll has 43 employees and is $3,276,816 annually.
Hildebrand said with this project they are estimating hiring one additional employee. He explained, “They (Viking Paper) are very conservative on their estimate of growth. In their last tax abatement, they didn’t project any growth. At that time there were 27 employees and during the last seven years of their Tax Abatement that number has risen to 43. The average wage has increased from $15.45 an hour to over $24 an hour and this new job will pay $52,000.
Viking Paper also has facilities in Detroit and Toledo and this Tax Abatement helped to get the new product line placed in Plymouth.
In 1981, Viking Paper Corporation was founded by Tony Mooter in Toledo and Viking II was established in Plymouth in 1993. At the Plymouth facility they run single wall, double wall, and triple wall corrugated paper in a variety of flute heights as well as government grade corrugated paper.
City Attorney Jeff Houin said the application didn’t have the correct figures for the salary breakdown, so he requested that Viking paper submit an amended application with the correct information.
Monday evening the Plymouth City Council passed a resolution Declaring the property at 1001 PIDCO Drive, Viking Paper to be in an Economic Revitalization Area with a 7-0 vote.
