ANDERSON – Three local companies are requesting that tax abatements be approved in October by the Anderson City Council for an expansion of their businesses.
The Anderson City Council will consider Thursday three resolutions to declare business locations as a designated economic revitalization area with final approval on Oct. 8 for the requested three-year tax abatements.
The standard abatement starts at 100 percent of personal property and real estate for the first year and is phased out over three years.
The three expansions are expected to create up to eight new jobs with an average salary range of $14.42 to $18.60 per hour.
Companies seeking tax abatements are Cabinets Plus, MoFab Inc. and Barber Manufacturing.
The estimated total investment for the three companies is $625,000.
Last month, the Anderson City Council approved a three-year abatement of property taxes for CB Fabrication, which plans to invest $300,000 to expand its manufacturing space by constructing a 9,000-square-foot addition.
Founded in 2006 by Chris Barkdull, the company last year invested $2 million in new equipment and a building expansion.
Barkdull told the council he has not asked for tax abatements for any previous expansion, in part because he couldn't promise there would be a specific increase in jobs. But he said recent contracts will make it possible to add employees.