St. Joseph Company Seeking Tax Abatement for New Facility
ST. JOSEPH (WJON News) -- A St. Joseph woodworking company is asking the city for a tax abatement to help them build a new facility.
According to city documents, Hansen and Company Woodworks owner Adam Hansen is planning to build a new 82,500-square-foot building in the Industrial Park.
There is a gap in the project of at least $334,000. He's requesting a tax abatement to help cover that gap. It would be a pay-as-you-go abatement agreement with the company paying its taxes and being reimbursed by the city once or twice a year. The abatement being sought is a nine-year term with the amount not to exceed $396,000.
The St. Joseph Economic Development Authority will be asked to consider the request at its meeting Tuesday with the recommendation forwarded to the City Council which will hold a public hearing on May 6th.
Hansen and Company Woodworks was started in 2004 as a custom woodworks shop specializing in cabinets, millworks, countertops, upholstery and metals. They generally serve multi-family and commercial interiors in the five-state area.
They currently have 61 employees and plan to add nine additional jobs by 2026. They also want to expand wages by 20 percent.
If the abatement is approved, they want to break ground by June 1st with the building completed by the end of June next year. The total cost of the project is just over $20 million.
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