Industrial facilities tax exemption certificates are tax abatements that formally cut in half the tax for businesses over a set number of years. In this case, both businesses are eligible for the maximum 12-year abatement.
The industrial development districts are for zoning purposes. Unlike other communities that set up specific areas for the districts, Truman says Roseville does it on a case-by-case basis.
With more than 20 years in gear manufacturing, Midwest Gear & Tool Inc., located at 15700 Common Rd., will be relocating their facility from Warren. The company deals with transmission, gear boxes and angle drives. The company will earn a $45,000 tax break over the duration of the abatement.
"Another bonus to this is that (the company) is going into a building--the old Regal Plastic--that has been empty for three years," Truman says. "We want to try to fill up those empty buildings."
The other company, Wolverine Plating Corp., will receive a $187,000 abatement on real property for 12 years and an $18,000 abatement on personal property for six years. The facility is located at 29456 and29462 Groesbeck.
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