The Plymouth City Council has finalized another tax abatement for AK Industries. Business development manager Pete Sabo told council members last week that the company is going through its biggest expansion since its founding in 1981.
“We are expanding into injection molding, which is something that I’ve complained to my father about since the day I started working there just under 10 years ago,” he said, “and, finally, we are investing in seven machines to expand our production capabilities. And any sort of help would be greatly appreciated.”
Last week’s abatement is specifically for the replacement of a piece of machinery at the business’s facility at 1301 Stanley Drive. It phases in the company’s property tax payment on the $750,000 equipment upgrade over seven years, according to the Marshall County Economic Development Corporation.
AK Industries manufactures septic tanks and other wastewater products, in addition to offering custom rotational molding services. The company expects to retain 155 jobs in Plymouth.
