"It hasn't been many times, maybe two or three, and not in recent years," says Township Supervisor Carl Solden.
However, Solden tells GlobeSt.com he thinks the company, which produces plastic molds for engines and other automotive parts, would be a welcome benefit to the community.
After building a roughly $3-million facility -- the size is yet to be determined -- on 3.26 acres of land at Williams Lake Road and Dixie Highway, Solden says the company plans on teaming with the local school district to train and recruit high school students to work at the plant.
"There's a lot of good things that could come from this development," Solden says. "Right now, the land is vacant. Sure, we get some money from it now, but it would collect a lot more taxes if there was something there."
The company is asking Waterford to assist them in applying for Michigan Economic Growth Authority incentives. The state provides tax breaks to companies that qualify, but the host community must be favorable to the development.
Waterford is also considering a tax break for the company. The recommended figure is a 50% tax abatement for 12 years.
"Even with the abatement, that's going to generate more revenue than we're getting now," Solden says. "It's not like a development that would require us adding more nfrastructure, or police and fire patrols."
The plant could also bring the start of a technology corridor for the township, the supervisor says.
The facility would be located in a technology park, about three miles from M-59. Board members are currently reviewing the plans, and should reach a decision on whether to offer the tax incentives by the end of the month, Solden adds.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
