Town Offers Abatement To Lure Fastener Tool Plant
Town Offers Abatement To Lure Fastener Tool Plant
Jason Sandefur
MEDIA SPOTLIGHT
Editor’s Note: Articles in Media Spotlight are excerpts from publications or broadcasts that show the industry what the public is reading or hearing about fasteners and fastener companies.
Officials in North Huntingdon, PA, have reportedly cleared the way for Bolttech Inc. to build a manufacturing plant.
Commissioners “approved a resolution creating an ordinance to give Bolttech a five-year exemption from real property taxes, plus another five years of structured tax levies, under the Local Economic Revitalization Tax Assistance Act,” writes Norm Vargo of the Pittsburgh Post-Gazette.
Bolttech officers appear to be considering several municipalities for a possible expansion.
Property assessors would assign a zero (100% abatement) assessment to the new plant for five years, then increase that levy by 15% each year until there is a full assessment.
Bolttech would be required to begin construction of a plant within nine months or the abatement would expire. Local officials hope the facility could create as many as 150 jobs.
Headquartered in West Newton, Bolttech supplies tools and other fastener related services to the power generation, steel, natural gas transmission, petrochemical and offshore drilling industries. The company operates facilities in Baton Rouge, Houston, Philadelphia, Chicago, Los Angeles, San Francisco, and Toledo, OH, along with a center in China. Web: bolttech.com �2008 FastenerNews.com
There are no comments at the moment, do you want to add one?
Write a comment