GREENVILLE – A Greenville company has big plans to invest in its facilities, preventing any possible loss of jobs thanks to a tax exemption.
According to Mersen General Manager Mitch Taylor, the company plans to invest $1.5 million in a 14,000-square-foot building addition and $5.32 million in new equipment at 712 Industrial Park Dr.
The Greenville City Council approved an industrial facilities tax exemption Tuesday night for the project.
The council approved the maximum abatement allowed, which is 50 percent of value for 12 years.
“In the 20 years I’ve been here, our policy is to do the maximum because we are in competition with other communities for these companies,” City Manager George Bosanic said. “If we don’t, someone else will. These companies are expanding here and choosing to do so here in Greenville because we provide these breaks for them.”
The amount of city property taxes to be abated in the 12-year period is $175,940. The total abatement for all property tax funded entities for the 12-year period is $596,405.
“These tax exemptions have been an effective tool to attract reinvestment in Greenville,” Councilman Mark Lehman said. “I’m happy to see Mersen making such an investment.”
The project is not expected to create any new jobs but will retain Mersen’s current workers.
This is the single largest investment Mersen has made in its Greenville facility since it purchased Graphite Engineering and Sales in 2006.
In a September press release, Taylor said Mersen has also purchased just over 10 acres of property adjacent to the existing facility and will provide enough room for future expansion.
“This is evidence of Mersen’s commitment to the Greenville plant and ensures that we will remain a significant resource for the high temperature activity for Mersen,” Taylor said.
Council members also approved a 12-year, 50 percent tax abatement for Huntington Foam on Tuesday. The company is planning to buy $61,000 of new equipment and create three jobs.
The abatement will cost the city $1,229 and all property tax supported jurisdictions $3,052.