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Pike Firm Adding Three Dozen Workers
(posted Jan 26)
The Metropolitan Development Commission approved a preliminary resolution
that designates the property of SPG Graphics, 4923 West 78th Street, to
be an economic revitalization area. The designation is necessary to apply
for a five-year personal property tax abatement, with an estimated tax
savings of $333,800.
According to the Department of Metropolitan Development's John Bartholomew,
"The company is one of six integrated companies of the HardingPoorman
group and is a leading provider of communications and printing solutions
for commercial printing and e-commerce. They provide a wide range of
services including computer-to-plate offset printing, UV printing on plastics,
digital printing, variable data, automated packaging and wide format signage.
The estimated cost of equipment is $7,220,000."
The company will be creating about 35 new jobs and retaining 129 positions.
"Staff estimates the proposed investment should result in an increase
of the tax base of approximately $4,043,200 of assessed value. During the
abatement period the petitioner is expected to pay $184,514.17 in personal
property taxes related to the new equipment. After the tax abatement expires
the petitioner can expect to pay about $103,659.94 in personal property
taxes annually related to the new equipment."
Bartholomew said the MDC is expected to give final approval at is February
4th meeting.
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