Athens OKs incentives for TRIS USA expansion
By Gwen Albers Staff Writer |
May 12, 2015
ATHENS - The Athens City Council voted unanimously Monday to give an Elm Industrial Park company more than $306,000 in sales and property tax breaks as it undertakes a $6 million expansion that will create 10 jobs.
TRIS USA, which makes carbon brushes for the automotive industry, will be exempt for 10 years from paying property taxes totaling $42,210 to the city, $113,966 to Limestone County and $29,547 to the state. During that same period, Athens City Schools will receive $15,195 annually in non-abated property taxes for a total of $151,954.
During construction, which will begin immediately with completion anticipated to be by September 2016, TRIS USA will not have to pay sales taxes on building materials and equipment to the city and state of $26,366 and $94,254, respectively, said Tom Hill, president of Limestone County Economic Development Association. The school district will, however, receive $84,766 in sales tax revenue.
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