Able gets tax break
City commissioners granted machine-parts maker Able Manufacturing an industrial tax exemption recently, and the small, women-owned firm will upgrade its equipment to attract work with higher-tolerance requirements.
Able Manufacturing, 601 Crosby St. NW, plans to invest $238,000 into buying new equipment, networking the computer systems, removing four old machines and creating a new manufacturing layout.
City Economic Development Director Kara Wood said new owner Kim Nicholson has turned the fortunes of the company completely around.
“The new owner has taken the company from the red into the black,” she said.
Wood added that the investment will make Able Manufacturing more competitive.
The 12-year exemption certificate will abate half of the taxes associated with the investment, a total of $17,262 over those dozen years.
Able Manufacturing expects to make four temporary positions permanent through the project. The city stands to gain nearly $15,000 in new income-tax revenue over that period from the new permanent jobs.
Able Manufacturing currently has seven full-time workers and one part-time employee, in addition to the four temporary workers.