Wednesday, July 14, 1999
Lebanon approves tax deal to bring in 45 jobs
BY DAVID ECK
Enquirer Contributor
LEBANON — Warren County's rapid growth is continuing, as Lebanon City Council on Tuesday approved a tax increment financing deal to bring an auto-parts maker — and 45 jobs — to the city.
Trim Parts Inc., which makes reproduction parts for old General Motors cars, is expected to build a $1.3 million, 40,000-square-foot building on nine acres off Holman Road. Negotiations to bring the company to Lebanon from the Milford area started about three years ago, as Trim Parts began to face a space crunch.
Under the tax increment financing package with Trim Parts, the city will buy the property for the building and will lease it to the company for $18,882 a year for 30 years.
Some of the lease payment will go to local schools, and the city will receive earnings-tax revenue from the jobs, said Lebanon City Manager C. Ed Patterson.
“It's a real good deal for business, and it's a real good deal for the city,” he said. “It's the type of business that we want in the city.”
The city frequently uses tax increment financing to entice businesses. The Trim Parts deal is the third enticement package approved by city council in recent weeks.
The city approved tax-
increment financing for Bunnell Hill Development to build a 106,000-square-foot office and manufacturing complex on Janet Way. That complex could generate 100 jobs.
Warren Group Inc., which makes piping used for medical purposes, has also received an incentive package, which should mean an initial 35 new jobs.
The council was also expected to take the first steps in using part of a $1.8 million windfall from an inheritance tax to upgrade Lebanon Cemetery.
Council's agenda included a first reading of ordinances that would move $1.2 million of that money into a new cemetery improvement fund, and $500,000 of the money to a community center fund.
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