NuStep receives extended tax abatement on $2.2 million infrastructure investment
NuStep Inc. received an extended industrial facilities tax exemption from the Pittsfield Board of Trustees, according to a report from the Ypsilanti Courier.
The company had been issued a three year abatement in August, but a new lease led the board to allow for a five-year extension to the abatement.
NuStep founder and CEO Dick Sarns
File photo | AnnArbor.com
The tax abatement is for a $2.2 million investment, according to the Courier, and will give an initial 50 percent break in new taxes resulting from the improvements to the facilities. NuStep has also said it will add eight new jobs over the next two years as part of the IFT agreement.
Click here to read the full article from the Ypsilanti Courier
Ben Freed covers business for AnnArbor.com. Reach him at 734-623-2528 or email him at benfreed@annarbor.com. Follow him on twitter @BFreedinA2
Comments
Arno B
Fri, Sep 28, 2012 : 12:49 p.m.
NuStep is a going concern with a great product, good management, and in no need of handouts. When are we taxpayers going to get an abatement?
HB11
Fri, Sep 28, 2012 : 1:41 p.m.
Certainly not while Obama is in office.
Pete
Thu, Sep 27, 2012 : 6:33 p.m.
For what it's worth, they make a nice product, have a friendly staff, and deliver when they say they will. I'd be happy if they stayed in the area and continued making product in the area. The whole thing could go offshore if they found "unfriendly-to-business" conditions here. Favorable treatment cost/job is a very limited way of looking at things. By being in this area, they create not only jobs, but trained, productive, tax-paying employees. These employees, as they cycle through various jobs in their careers, make the whole area attractive to other businesses. This applies not just to NuStep, but to any business that employs and trains people.
talker
Mon, Oct 1, 2012 : 1 a.m.
It's still only eight jobs in exchange for the extended tax abatement. If the business has any growth at all, they'd likely add eight employees during the next few years. Why are the rest of us subsidizing them?
say it plain
Thu, Sep 27, 2012 : 5:47 p.m.
Wow, *8* whole jobs! I wonder what that amounts to on a per-job basis for the tax savings realized?! If the Governor likes you I guess you get the bennies!