09-12-16 Community Investment - Laserfiche WebLink

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and hopefully stay in our location, but we are going to have to get creative by converting some indoor storage space to potential manufacturing space to add machinery. Committeemember Kelly motioned to send Bill No. 16 -70 to the full Council favorably, and it carried with four (4) ayes. Committeemember Randy Kelly motioned to send Bill No. 16 -68 to the full Council favorably, Committeemember Regina Williams- Preston seconded, and it carried by a voice vote with four (4) ayes. Bill No. 16 -72 — Designating Real Property Tax Abatement for Imagineering Ent. Bill No. 16 -74 — Designating Personal Property Tax Abatement for Imagineering Ent. Ms. Heintzelman stated the abatement is for Imagineering Technology, and they are looking to invest $3.5 million. It will allow them to create twenty -five (25) new jobs with an annual payroll of over $780,000 per year. The total taxes over the whole project, both real and personal, will be $332,374, with $126,224 abated. Joe Rowan, 1302 West Sample Street, stated that his business has been around since 1959 and they are looking to expand their business. Jim Hammer acquired the company in 1996, and they've, done tremendous things in the past few years with it. The company has upped their headcount by seventy -six percent (76 %) in the past six (6) to seven (7) years, and made about $4 million in investments into the company in various equipment. They are looking to expand their portfolio, and believe that if they add the anodized process to their business, it will complement some of their other offerings. They are a metal finishing company, so they offer various paint and chemical applications. The anodized process is a chemical process for aluminum, and that would open doors in the aerospace industry with customers who have asked them to go ahead with this project. They can add about twenty -five (25) jobs, and that is a conservative estimate. Councilmember Dr. Varner stated that this company has been to the Council a few times, and they've always managed to put the product and the need together, and he's been able to grow his business substantially. We want local businesses to stay here and grow, so to the extent that we can help them, it's great. Committeemember Randy Kelly moved to send Bill No. 16 -74 to the full Council favorably, Committeemember Williams- Preston seconded and it carried by a voice vote of four (4) ayes. Respectfully Submitted, Gavin Ferlic, Committee Chair 2