3/25/13 Commissioners approve two new enterprise zone agreements, continue 12

  • By Nick Sabo
  • March 25, 2013
  • 331
                        
SUMMARY: In all, EZ participating businesses promise 143 new jobs in three years The Holmes County Commissioners Monday March 25 approved creation of two new enterprise zones and continued similar agreements with 12 local businesses. In all, the 14 businesses have pledged to create 143 new jobs over the next three years, receiving a tax abatement on new construction in return. Commissioners voted to approve enterprise zone (EZ) agreements with Weaver Leather, LLC., and Pride of the Hills Manufacturing Of Killbuck, Inc. According to Holmes County Economic Development Council executive director Tom Wilke, Weaver Leather will receive a 50 percent, 10 year tax abatement on a 20,000 square foot expansion. Pride of the Hills will receive a 50 percent, 10 year tax abatement on a 10,000 square foot expansion. The Weaver Leather expansion is expected to cost approximately $600,000 to build, plus an additional $70,000 in new equipment, Wilke said. The Pride of the Hills expansion is expected to cost $400,000 to build and $60,000 in equipment, according to Wilke. The 50 percent tax abatement is for the new construction only. After 10 years, the abatement expires and the business owners will pay the full tax value of the new real estate. As per their EZ agreement, Weaver Leather has promised to create four new full time jobs in three years. Pride of the Hills has promised to create six new full time jobs in three years. If the businesses fail to hold up their end of the EZ agreement, the commissioners may decide to terminate the tax abatement. Weaver Leather is a local business that manufactures leather products. Pride of the Hills is an oil and gas equipment manufacturer. Existing EZ agreements were continued by commissioners Monday with the following businesses: Buckhorn Woods Limited and Yoder Lumber Company; MLT Winesburg, LLC, and Winesburg Meats; Quattro G. Ltd. and Guggisberg Cheese; Stamark Ltd. and Coblentz Distributing, Inc. (2006 EZ agreement); Stamark Ltd. and Coblentz Distributing, Inc. (2011 EZ agreement); Timberstone Ltd.; Vada Properties, Ltd., and David E. Easterday & Company; Winesburg Enterprises Ltd. and David E. Easterday & Company; Winesburg Enterprises Ltd. and Winesburg Chair Company; Troyer Land Ltd. and Troyer Cheese; CASA Ltd. and Provia Door; D & N Development and Fryburg Door; Bend Land and Buckeye Seating. Of the 12 existing EZs, all but Buckhorn Woods Limited and Yoder Lumber Company are on-schedule for new job creation. Yoder Lumber owner Mel Yoder said his business was hit hard by the slowing housing market, but expects to meet his jobs goal before the end of the EZ agreement. Wilke originally reported that the 12 existing EZs will create 135 new jobs. However, the number was readjusted down after an adjustment with one EZ agreement, Wilke said. Commissioners said the agreements and the inherent tax abatements are helping retain companies and create new jobs. “It’s not always about raising taxes,” Commissioner Rob Ault said. “It’s about getting people back to work.”


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