City Council Approves Tax Abatement for Clark's Recycling
May 31, 2018
The Common Council for the City of Huntington approved a request for tax abatement from Clark's Recycling, Inc
., of Huntington, in support of an investment of $3,250,000.00 by the Company. The abatement is over a ten year period of time using a traditional benefit schedule of 10% per year.
A Waiver of Non-compliance was also approved by the City Council as a technical correction to estimated information on a previous abatement approved for the Company. "The Company invested significantly more than they originally estimated to the City and is now considering an additional investment as well," said Mark Wickersham, executive director of Huntington County Economic Development. "The Company created the jobs as previously announced, however, spent significantly more than expected. That, combined with the new investment opportunity the Company is considering is a very encouraging bit of news for Huntington," he concluded.
The City Council approved both the Waiver and the tax abatement on a unanimous vote.