The Plymouth City Council members were presented with resolutions Monday night to begin the process of tax abatement for LA Poly, Inc. and CAC Holdings, Inc.
Marshall County Economic Development Corporation President and CEO Jerry Chavez explained that these resolutions are unique.
“This one has to do with one property with the address of 1430 Western. It’s a separate company holding the property and another one purchasing and paying taxes on the machinery and equipment,” said Chavez.
He said the personal property investment for machinery and equipment is almost $900,000 while the real estate investment is $1.2 million.
Owner David Birchmeier said they purchased assets of a failing company and moved it to the old Bay Valley building on Western Avenue. He commented that there needed to be a lot of work done at the facility, but in the end it went from being a leased building to a purchased building.
According to the company’s website, LA Poly, Inc. is plastic recycling company offering custom compounds, generic prime, wide spec, repelletized and regrind materials and more. They also service injection molders, thermoformers and compounders.
The Plymouth City Council members approved resolutions that would declare the certain real estate to be within an Economic Revitalization Area for LA Poly, Inc. as well as CAC Holdings, Inc. Councilman Don Ecker, Jr. abstained from the vote while the remaining council members voted in favor of the resolutions.
