Tool maker given 7-year tax abatement by Dexter Village Council
With construction almost complete to double its current lab space in Dexter’s industrial park, K-Space, which manufactures diagnostic tools for the semiconductor industry, was granted unanimous approval for a seven-year tax abatement Monday night by the Dexter Village Council.
Daryl Bartlett, owner of the company, told the council that the company has 21 employees and he hopes to add 10 to 12 new employees in the next 18 months.
He said his company has recently “gotten into the solar panel industry” thus the need for the expansion.
The company was given a tax abatement for about $85,750 in personal property and about $704,000 in real property improvements.
Despite the abatement, the village will still receive about $2,677 in additional revenue during the abatement period, which will increase to $5,354 once the seven years expires.
Bartlett said the village granted K-Space an abatement when the first half of the buildings were built, which expires in 2013.
During the abatement period, “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,” according to a memo from Courtney Nicholls, assistant village manager.
The company, which started in 1992, is constructing a one-story, 6,840-square-foot addition to its current building in the Dexter Research and Development Park off Dan Hoey Road. Bartlett said he expects the construction to be completed soon.
K-Space was named the U.S. Small Business Administration’s 2011 Exporter of the Year award for Michigan, the Midwest and the nation.
The facility is located at 2182 Bishop Drive, near the village’s water tower.
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.