Dexter's Dapco Industries approved for 12-year tax abatement by village council
The Dexter Village Council unanimously approved a 12-year tax abatement for Dapco Industries, a longtime business in the village’s industrial park Monday night, which is expected to pave the way for 10 new jobs in the village.
Ron Tupper, president of the company, said the abatement was important to Dapco to continue to create new business and it “will help the company achieve those goals.”
Located at 2500 Bishop Circle, the company is a leading supplier of components for the small engine industry and was founded in 1943.
The company requested an abatement for about $1.286 million in new personal property and about $879,000 in real property improvements for an additional 8,500 square feet in factory space that will house screw machines.
“The value of the abatement is approximately $7,300 in village taxes and about $23,000 in taxes from other entities,” including Scio Township, the Dexter Public Library and Dexter Community Schools, according to a memo from Courtney Nicholls, assistant village manager.
The expansion is expected to bring 10 new jobs to the area. In addition, “The village benefits by receiving 50 percent of the tax revenue that we wouldn’t otherwise have received if the company had not made the investment,” the memo states.
The immediate revenue increase is $7,300 for the village and that will increase to $14,600 at the end of the 12-year abatement.
Lisa Allmendinger is a regional reporter for AnnArbor.com. She can be reached at email@example.com. For more Dexter stories, visit our Dexter page.