Huntington Sheet Metal Expanding
Abatement will allow new jobs
Council approves abatement for local industry
Posted: Thursday, October 10, 2013 4:00 am
BY LUCAS BECHTOL email@example.com
The Huntington City Common Council approved a tax abatement Tuesday evening that would allow a local industry to expand and hire more employees.
The 10-year tax abatement will allow Huntington Sheet Metal, Inc., on Riverfork Drive to purchase metal forming equipment, which has an assessed value of $200,000, according to the abatement form. The company currently has 78 employees with a combined salary of $3 million, all of which will be retained.
“We really need this equipment,” Daniel Drummond, president of the company, said. “These pieces of equipment will help us take care of our customers and create a minimum of two new jobs, possibly more.”
The added salaries, according to the statement of benefits form, will be $50,000 total.
With the approval, he said they would purchase the equipment on Tuesday and intend to have it installed by the end of the month.
The council approved the abatement with a 7-0 vote.