Supplier Buying Industrial Facility

CHESTERFIELD TOWNSHIP, MI-Troy Tube and Manufacturing is using state bonds to buy a 66,000-sf building for $2.6 million. The renovated facility will create at least 10 jobs, company officials say.

By Robert Carr | January 04, 2002 at 01:01 AM

The land and facility portion of the project will be owned by Jo-Mar Family LLC, and leased to the Troy Tube company.

State officials have provided the company with industrial development revenue bonds for the project. These bonds lessen the cost of borrowing, because the interest paid to the bond buyer is exempt from federal, state and local taxes.

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