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Chrome Plus 5 Year Tax Abatement Review

Chrome Plus 5 Year Tax Abatement Review. Office of Economic Development. September 5, 2017. Chrome Plus. Processes steel and aluminum for use by aircraft OEMs and suppliers in the manufacturing process Located at 3939 West 29 th. Chrome Plus. 3939 West 29 th. Chrome Plus.

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Chrome Plus 5 Year Tax Abatement Review

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  1. Chrome Plus5 Year Tax Abatement Review Office of Economic Development September 5, 2017

  2. Chrome Plus • Processes steel and aluminum for use by aircraft OEMs and suppliers in the manufacturing process • Located at 3939 West 29th

  3. Chrome Plus 3939 West 29th

  4. Chrome Plus • 2012 expanded facility and added new machinery & equipment • 20,000 square foot building addition, $1,142,900 capital investment • Purchase of additional machinery and equipment, $1,107,100 capital investment • Approved for 78.75% Economic Development Tax Exemption (EDX) on 5 + 5 year basis

  5. Chrome Plus: Addition

  6. Chrome Plus

  7. Chrome Plus

  8. Chrome Plus • 78.75% property tax abatement • 5 plus 5 year basis

  9. Chrome Plus • Value of one year 78.75% tax abatement City is $14,336 *Chrome paid $46,860.17 in 2016 general taxes

  10. Chrome Plus Updated Benefit/Cost Analysis:

  11. Chrome Plus • Recommendation: • It is recommended that City Council approve the second five-year 78.75% ad valorem tax exemption for Chrome Plus International.

  12. Chrome Plus 5 Year Tax Abatement Review Office of Economic Development Serving You, In Many Ways, Every Day

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