Grand Rapids City Commission uses tax abatements to spur job growth

Grand Rapids city commissioners recently approved tax exemptions for two manufacturers that could spur 10 new jobs and retain 75 existing positions.

According to excerpts from the story:

City commissioners recently approved two Public Act 198 industrial tax exemptions that are expected to be worth nearly $1.2 million in private investments, create a total of 10 new jobs, and help to retain 75 existing jobs. Thierica Inc., 900 Clancy Ave. NE, has purchased seven parcels in the 900-block of Lafayette Avenue NE for expansion purposes.

The company will invest about $900,000 to build an 8,392-square-foot addition, build a truck well, buy some production equipment and reconfigure existing production lines. The construction project will cost about $560,000, while the equipment purchase and installation is expected to run $340,000. Thierica manufactures interior components for the auto industry and manual guidance instruments for the aerospace field.

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