Columbia company wants tax break to add 135 jobs

2 years 6 days 14 hours ago Monday, August 08 2016 Aug 8, 2016 Monday, August 08, 2016 8:05:00 PM CDT August 08, 2016 in News
By: Jack Barlow, KOMU 8 Reporter
loading

COLUMBIA - Over a hundred new jobs could be available for Columbia residents in the near future. The company Dana Light Axel Products is seeking approval from the Chapter 100 Taxing District Review Panel to receive a tax break on an investment to the company's Columbia plant.

The company manufactures parts for off road vehicles. It wants to invest $39 million into new machinery and equipment and wants a 50 percent tax abatement on the investment. The company currently employs 89 people at its Columbia plant, and the investment could provide the area with 135 additional positions.

Darin Preis, Columbia Board of Education member, will vote on behalf of the board at the Chapter 100 review panel. Preis says he believes the deal will benefit multiple parties involved and appreciates the company's commitment to hiring local residents.

On Monday night, the Board of Education unanimously agreed Preis should vote in favor of the proposal.

"They are planning to draw from the local employment pool so it won't be attracting new people, but it will be creating good jobs for local citizens. So it's not creating new costs for any of the taxing entities, like Columbia Public Schools, but it is increasing the revenue that is available through the other 50 percent of the tax," Preis said.

REDI representative Dave Griggs presented the details of the proposal to the board and answered any questions members had. He said the Dana plant previously employed up to 400 people, but technology phased out a majority of the employees. 

The review panel will meet Thursday, Aug. 18 to vote whether to approve the abatement.

This would be only the third Chapter 100 bond the panel has approved. ABC Labs was the first to receive an abatement, and the break will end shortly after a 10 year period. Heinz and Kraft received an abatement last year for a local factory.

More News

Grid
List
MONTGOMERY COUNTY - A multiple vehicle accident shut down both sides of Interstate 70 Wednesday around 7 p.m. At least... More >>
1 hour ago Wednesday, August 15 2018 Aug 15, 2018 Wednesday, August 15, 2018 8:28:00 PM CDT August 15, 2018 in News
COLUMBIA - The Columbia Police Department opened a new substation in northeast Columbia on Wednesday. It's located off of Paris... More >>
2 hours ago Wednesday, August 15 2018 Aug 15, 2018 Wednesday, August 15, 2018 7:36:00 PM CDT August 15, 2018 in News
COLUMBIA – In his first comments on the extended period of weekend violence in downtown Columbia, Police Chief Ken Burton... More >>
2 hours ago Wednesday, August 15 2018 Aug 15, 2018 Wednesday, August 15, 2018 7:28:00 PM CDT August 15, 2018 in News
COLUMBIA - The University of Missouri Police Department and the Columbia Police Department issued a joint statement Wednesday calling recent... More >>
3 hours ago Wednesday, August 15 2018 Aug 15, 2018 Wednesday, August 15, 2018 6:24:00 PM CDT August 15, 2018 in News
JEFFERSON CITY, Mo. (AP) — A jury has awarded Missouri prison guards compensation for work they performed before and after... More >>
4 hours ago Wednesday, August 15 2018 Aug 15, 2018 Wednesday, August 15, 2018 5:51:38 PM CDT August 15, 2018 in News
ST. LOUIS (AP) — A special prosecutor has been appointed to investigate allegations that a lawyer for the ex-husband of... More >>
4 hours ago Wednesday, August 15 2018 Aug 15, 2018 Wednesday, August 15, 2018 5:49:00 PM CDT August 15, 2018 in News
COLUMBIA - A grant and 10 year plan want to help revitalize an old section of Columbia and make it... More >>
5 hours ago Wednesday, August 15 2018 Aug 15, 2018 Wednesday, August 15, 2018 4:03:00 PM CDT August 15, 2018 in News
KINGDOM CITY - Many rural school districts aren't getting enough from the state to pay for transporting students. Last... More >>
7 hours ago Wednesday, August 15 2018 Aug 15, 2018 Wednesday, August 15, 2018 2:22:00 PM CDT August 15, 2018 in News
BOONE COUNTY - Deputies arrested a man Wednesday morning following a chase throughout eastern Boone County. The chase started... More >>
11 hours ago Wednesday, August 15 2018 Aug 15, 2018 Wednesday, August 15, 2018 10:16:00 AM CDT August 15, 2018 in News
CALLAWAY COUNTY - Both westbound lanes of I-70 east of Kingdom City were back open following a crash Wednesday morning.... More >>
13 hours ago Wednesday, August 15 2018 Aug 15, 2018 Wednesday, August 15, 2018 8:09:00 AM CDT August 15, 2018 in News
COLUMBIA - Two medical marijuana November ballot measures are going to court ahead of the election, less than three months... More >>
14 hours ago Wednesday, August 15 2018 Aug 15, 2018 Wednesday, August 15, 2018 7:13:00 AM CDT August 15, 2018 in News
(CNN) -- A new grand jury report says that internal documents from six Catholic dioceses in Pennsylvania show that more... More >>
15 hours ago Wednesday, August 15 2018 Aug 15, 2018 Wednesday, August 15, 2018 6:20:00 AM CDT August 15, 2018 in News
BEVIER, Mo. (AP) — A suspect is hospitalized after being shot by a sheriff's deputy in north-central Missouri. Macon... More >>
15 hours ago Wednesday, August 15 2018 Aug 15, 2018 Wednesday, August 15, 2018 6:11:00 AM CDT August 15, 2018 in News
COLUMBIA - The Boone County Sheriff's Department is investigating a shots fired case in northeast Columbia. Around 2 a.m.... More >>
17 hours ago Wednesday, August 15 2018 Aug 15, 2018 Wednesday, August 15, 2018 4:50:00 AM CDT August 15, 2018 in News
COLUMBIA - Assistant Police Chief John Gordon says the police department will be beefing up patrols in downtown Columbia this... More >>
22 hours ago Tuesday, August 14 2018 Aug 14, 2018 Tuesday, August 14, 2018 11:30:00 PM CDT August 14, 2018 in News
KANSAS CITY - Kansas Gov. Jeff Colyer announced he is conceding the race for the Republican nomination for the governorship.... More >>
1 day ago Tuesday, August 14 2018 Aug 14, 2018 Tuesday, August 14, 2018 8:18:00 PM CDT August 14, 2018 in News
COLUMBIA - MU researchers say they've hit a "milestone" in developing a cancer treatment that could be more effective than... More >>
1 day ago Tuesday, August 14 2018 Aug 14, 2018 Tuesday, August 14, 2018 6:57:00 PM CDT August 14, 2018 in News
JEFFERSON CITY - Voters will now be able to decide whether or not they approve of a gas tax increase,... More >>
1 day ago Tuesday, August 14 2018 Aug 14, 2018 Tuesday, August 14, 2018 6:37:00 PM CDT August 14, 2018 in News
Columbia, MO
Broken Clouds 76°
10pm 77°
11pm 76°
12am 73°
1am 73°