Cincinnati City Council has been asked to approve enterprise zone tax abatements to allow Armor Metal Fabrication Inc. and American Excelsior Co. to expand in the city.
Armor Metal, a metal fabrication shop formerly owned by Makino Inc. in Mason, is seeking an abatement on a $450,000 expansion at its plant at 3408 Beekman St., Cumminsville.
David Schmitt, who bought the company in August, said the company plans to add new equipment and make improvements to its 30,000-square-foot plant.
Adding 5 jobs
The investment will allow the company to retain its current 22 employees and add five new jobs in the next three years.
City officials said those jobs would generate a total of $2,402 in annual city income taxes. The value of the tax abatement on the new equipment was put at $2,335 annually for 10 years.
Under the enterprise zone agreement, Armor Metal will pay school taxes estimated at $41,510 during the 10-year agreement.
American Excelsior Co., a Texas-based maker of packing material, is seeking a real and personal property tax abatement on a planned $2.7 million investment in a new plant in Center Hill Business Park in Winton Hills. The company now has a plant at 415 W. Seymour Ave., Carthage.
The investment includes $2.5 million for a new 60,000-square-foot plant and $240,000 for new equipment.
The company said the investment will retain 20 jobs and create 7 new jobs within 5 years.
$224,250 abatement
City officials said the abatement was valued at $224,250 for 10 years.
During the same period, the new and existing jobs are expected to generate $131,520 in city income taxes.
The enterprise-zone agreement calls for American Excelsior to make school tax payments totaling $325,880 in the 10-year period.
Council is also being asked to amend a third enterprise zone with Crocker-Fels Co., a medical supply company in Roselawn, to reflect new ownership of the company. In June, Crocker-Fels, 1888 Section Road, sold most of its assets to Physician Sales & Service Inc.
