“Here, we’re using real tools to create real jobs in the immediate,” said Rick Tormala, 2nd Ward Commissioner in October.
Tormala made his comment after commissioners gave Grand Rapids Sash and Door an industrial tax exemption that will bring 115 existing jobs to the city and create up to 15 new ones.
Grand Rapids Sash and Door is consolidating its production facility and office personnel at 219
The project is expected to create $800,000 in new property tax revenue over the 12 years of the abatement, with $330,000 of that total being eliminated during that period. The city’s share of that tax is $144,000, with half being abated. New income tax revenue to the city is expected to be $468,000 over those dozen years.
Most of the GR Sash and Door facility is in the Ren Zone, which gives the company a full tax abatement through 2008 and a partial one for the following three years. The latest abatement is in addition to the nearly tax-exempt status the Ren Zone offers.
“This is a good one all the way around,” said Mayor George Heartwell.
Up to 150 additional jobs are expected to come from the renovation of the former Junior Achievement building at the southeast corner of
The city also granted 2 East
“Bringing the building back to life will energize an important gateway to downtown and stimulate additional investment in the area,” said Susan Shannon, economic development director for the city, of the structure in the Heartside Business District.
The JA building is located across
RSC offered $2 million for the 37,000-square-foot lot. The property was appraised at $1.95 million.
Commissioners also approved an industrial tax exemption for Wolverine Printing Co., a move that will see the firm add five more jobs to its staff of 30. Wolverine will spend nearly $700,000 on new digital printing and finishing equipment and the purchase should be worth $52,000 in new personal property taxes over the next 12 years. Roughly $33,000 of that figure will be abated.
NTH Consultants Ltd. received a personal property tax exemption from the city for its planned purchase of $300,000 worth of equipment. In return, NTH will relocate 25 workers to the city and add 15 new jobs at its new location in