FlintTalk.com Forum Index > Political Talk Topic: Ai-Flint seeks $3.6M break on taxes

Author    Post   Steve Myers Site Admin Ai-Flint seeks $3.6M break on taxes FLINT THE FLINT JOURNAL FIRST EDITION Saturday, July 29, 2006 By Christofer Machniak cmachniak@flintjournal.com • 810.766.6304 FLINT - An auto supplier that just moved to new digs in Flint is seeking a $3.6-million tax break from the city. The Flint City Council will conduct a public hearing at 5:30 p.m. Aug. 14 at City Hall, 1101 S. Saginaw St., on a 12-year tax abatement for Ai-Flint. Ai-Flint applied for the tax abatement this month while it completed a highly touted and successful move from a smaller site in the Flint-Flint Township Business Center near Bishop Airport to a new 460,000-square foot facility there. Under the deal, the city would still collect about $3.5 million in property taxes and between $1 million to $2 million in income taxes over the 12-year-life of the tax break. The new break would replace a similar one attached to the old facility. The company will retain a personal property tax break that's good for seven more years. A public hearing on the request is set for 5:30 p.m. Aug. 14 before the Flint City Council. The new $17.1-million facility has retained nearly 300 jobs and was widely trumpeted by local economic development officials when it was announced in January. At that time, officials said the plant was expected to create up to 75 new jobs, although the latest estimates are now 20-50, according to city documents. The jobs are expected to pay $10 an hour, the documents said. The amount of the new jobs depends on demand for General Motors' launch of new heavy-duty crew-cab pickups in 2007. Joe Conroy, Flint governmental operations director, said if the city doesn't offer such tax breaks, other communities would, luring companies away. "It's the rules of the game of economic development," Conroy said. "We want to make sure we keep the jobs in the community. We're willing to give up some of the taxes for this purpose." http://www.mlive.com/news/fljournal/index.ssf?/base/news-38/115417742477320.xml&coll=5 Sun Jul 30, 2006 5:46 pm    Display posts from previous:   All Posts1 Day7 Days2 Weeks1 Month3 Months6 Months1 Year Oldest FirstNewest First

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