Abatements approved for area businesses
PLYMOUTH — The efforts of three area businesses to continue with their awarded tax abatements was approved by the Plymouth Common Council.
Aearo Technologies, Glenmark Industries and LSAC Plymouth all met the requirements for their abatements to continue. It is current city policy to review all businesses awarded abatements by the city on a yearly basis to determine if they are in “substantial compliance” with the terms of the abatement.
Glenmark Industries was awarded an abatement in 2005 saying that they projected adding 43 jobs and would have an additional impact on the local economy in a $1.25 million increase in wages during the time of the abatement. The company far out did themselves having already added 99 new jobs with the total impact of worker’s wages on the economy of nearly $3 million.
Aearo Technologies received its abatement in 2008 projecting an addition of 42 jobs. So far the company has added 22 of those workers.
LSAC Plymouth is a New York City-based company that has warehouses in the Plymouth area off of Pioneer Drive.
The company originally received an abatement from Marshall County in 2000 for building one warehouse and another in 2003 for building a second. After the city subsequently annexed the area, the abatements came under their jurisdiction. The buildings are used by Dean Foods.
The company projected seven new jobs would be created by the addition and an impact of $687,000 on the community. Those seven jobs have been created and the actual impact of the structures on the economy is around $917,000.