Boone County Commission approves tax abatements for developing companies

7 months 2 weeks 3 days ago Thursday, November 30 2017 Nov 30, 2017 Thursday, November 30, 2017 3:39:00 PM CST November 30, 2017 in News
By: Maia McDonald, KOMU 8 Reporter
loading

COLUMBIA - The Boone County Commission voted Thursday to approve tax breaks for two companies looking to expand their businesses in Boone County.

Dana Axle Light Products, which manufactures vehicle parts, and American Outdoor Brands, also known as Smith and Wesson Corporation, a hunting and outdoors company, will save thousands of dollars on taxes each year. 

Dana Light Axle company spokesperson Jeff Cole said in a statement the company is looking forward to putting more into its Columbia operations.

"We are excited that this investment will lead to an additional 135 well-paying jobs.  We appreciate the support we have received from all levels of government – the state, county, and city – which has made this investment possible," Cole said.

Dana Light Axle will receive a $500,000 abatement while American Outdoor Brands' will amount to $370,000. Each will run over the next five to ten years if they follow strict guidelines.

"We have a contract agreement with them that requires that they employ a certain number of people in this community but that they pay an average wage that typically exceeds the median household income in this community," said District I Commissioner Fred Parry.

Dana Light Axle is required to employ 200 new people by Jan. 1, 2021 in order to receive a 50 percent abatement, which increases if the that number is not met.

American Outdoor Brands must create 46 new positions by Oct. 31, 2019 in order to receive a 50 percent abatement that decreases if that number is not met. American Outdoor Brands is also required to increase the number of jobs it creates to 66 in 2020 and 96 in 2021.

"It allows us to recruit, attract and retain large employers, people who are going to make a significant investment in our local work force," Parry said. 

He said the commission has had a significant amount of time to consider whether to grant the abatements. 

"For Dana Light Axle, this is a project that has been in the works for several years. For American Outdoor Brands, this was a project that really first showed up on our radar early this year," Parry said. 

He said the tax breaks are good for the entire community.

"We have a lot of people in our community who are underemployed and so this really allows us to the median wage in our income that's being paid in our community," he said.

Parry said the commission hopes the additional economic activity created by the two companies will mean more resources to fund the services that Boone County residents want. 

More News

Grid
List
COLUMBIA - The United States Air Force (USAF) Band of Mid-America is partnering with Columbia Parks and Recreation to present... More >>
56 minutes ago Thursday, July 19 2018 Jul 19, 2018 Thursday, July 19, 2018 10:00:00 AM CDT July 19, 2018 in News
(CNN Money) -- Facebook CEO Mark Zuckerberg tried to clarify his controversial comments about Holocaust deniers Wednesday afternoon, hours after... More >>
2 hours ago Thursday, July 19 2018 Jul 19, 2018 Thursday, July 19, 2018 8:33:00 AM CDT July 19, 2018 in News
MARIES COUNTY - At the City of Belle Fair, officers arrested a sex offender carrying a stun-gun Wednesday night. ... More >>
6 hours ago Thursday, July 19 2018 Jul 19, 2018 Thursday, July 19, 2018 4:47:00 AM CDT July 19, 2018 in News
KANSAS CITY (AP) — A man who was shot to death on Sunday after shooting three Kansas City police officers... More >>
14 hours ago Wednesday, July 18 2018 Jul 18, 2018 Wednesday, July 18, 2018 8:33:33 PM CDT July 18, 2018 in News
MANSFIELD (AP) — The Missouri State Highway Patrol says a trooper who was shot in southwest Missouri has been released... More >>
14 hours ago Wednesday, July 18 2018 Jul 18, 2018 Wednesday, July 18, 2018 8:28:02 PM CDT July 18, 2018 in News
COLUMBIA - Run-down buildings, scuffed up sidewalks and empty lots are what people first see when they exit off I-70... More >>
14 hours ago Wednesday, July 18 2018 Jul 18, 2018 Wednesday, July 18, 2018 8:23:00 PM CDT July 18, 2018 in News
ST. LOUIS (AP) — The white former interim police chief of St. Louis is alleging discrimination based on race in... More >>
14 hours ago Wednesday, July 18 2018 Jul 18, 2018 Wednesday, July 18, 2018 8:20:28 PM CDT July 18, 2018 in News
COLUMBIA - Japanese beetles are swarming mid-Missouri in the tens of thousands, wreaking havoc on gardens, crops and trees. ... More >>
14 hours ago Wednesday, July 18 2018 Jul 18, 2018 Wednesday, July 18, 2018 8:18:00 PM CDT July 18, 2018 in News
WASHINGTON (AP) — Donald Trump will visit Missouri next week to deliver his first address as president to the annual... More >>
14 hours ago Wednesday, July 18 2018 Jul 18, 2018 Wednesday, July 18, 2018 8:13:07 PM CDT July 18, 2018 in News
JEFFERSON CITY - On Wednesday, Governor Parson issued an executive order putting nearly half of the counties in Missouri under... More >>
14 hours ago Wednesday, July 18 2018 Jul 18, 2018 Wednesday, July 18, 2018 8:12:00 PM CDT July 18, 2018 in News
JEFFERSON CITY (AP) — A Missouri state representative has unblocked a critic from her Twitter account after he sued. ... More >>
14 hours ago Wednesday, July 18 2018 Jul 18, 2018 Wednesday, July 18, 2018 8:10:32 PM CDT July 18, 2018 in News
KANSAS CITY (AP) — A Kansas City-area woman has been charged with letting men rape her 2-year-old daughter. Twenty-five-year-old... More >>
17 hours ago Wednesday, July 18 2018 Jul 18, 2018 Wednesday, July 18, 2018 5:12:46 PM CDT July 18, 2018 in News
HARRISBURG - A town rocked by tragedy continues to heal after the man responsible for the car crash that killed... More >>
17 hours ago Wednesday, July 18 2018 Jul 18, 2018 Wednesday, July 18, 2018 4:57:00 PM CDT July 18, 2018 in News
MILLER COUNTY - Deputies arrested a man following an investigation into alleged sexual abuse, and charges were filed in the... More >>
18 hours ago Wednesday, July 18 2018 Jul 18, 2018 Wednesday, July 18, 2018 4:05:32 PM CDT July 18, 2018 in News
JEFFERSON CITY – Different sides reacted Wednesday to the Missouri Supreme Court's ruling in favor of a wind energy project.... More >>
19 hours ago Wednesday, July 18 2018 Jul 18, 2018 Wednesday, July 18, 2018 3:37:00 PM CDT July 18, 2018 in News
JEFFERSON CITY - The Missouri Democratic Party filed an appeal to the ruling from a Cole County judge dismissing a... More >>
20 hours ago Wednesday, July 18 2018 Jul 18, 2018 Wednesday, July 18, 2018 1:59:00 PM CDT July 18, 2018 in News
FULTON - In the span of one month, law enforcement responded to nine car crashes on Route F between Boone... More >>
21 hours ago Wednesday, July 18 2018 Jul 18, 2018 Wednesday, July 18, 2018 1:40:00 PM CDT July 18, 2018 in News
COLUMBIA - The man who caused the crash which left a Harrisburg teacher dead pleaded guilty Wednesday. Brandon Brill,... More >>
22 hours ago Wednesday, July 18 2018 Jul 18, 2018 Wednesday, July 18, 2018 12:34:00 PM CDT July 18, 2018 in News
Columbia, MO
Broken Clouds 77°
11am 79°
12pm 80°
1pm 81°
2pm 86°