ASHLAND — Cabinet Restylers will only pay a quarter of its property taxes for the next decade on a new expansion.
Ashland City Council on Tuesday approved a 75% tax discount for the next 10 years for a 43,000-square foot expansion of Thiel’s MIA, LLC.
Under the Ohio Enterprise Zone program, exemptions can be granted on real and/or personal property assessed values of up to 75% for up to 10 years, or an average of 60% over the term of the agreement, on new investments in buildings, machinery/equipment and inventory and improvements to existing land and buildings for a specific project.
The LLC is doing business as Cabinet Restylers. The business has operated in Ashland since 1967, according to its website. The business specializes in cabinet restyling and manufacturing, serving kitchen remodelers nationwide.
Mayor Matt Miller said the business has grown from eight to 62 employees in the past year. It anticipates more growth. The company’s website states it was recognized as part of the Inc Top 5000 for its growth in 2024.
It’s thanks to that growth, Miller said, that the business is expanding. It’s adding 43,000 square feet of manufacturing space to the tune of $6.2 million. That expansion will be subject to the discount. The rest of the business’s space will be taxed at full price.
“This is consistent with what we have done with other emloyees in our industrial park who continue to grow here in Ashland, and I would just remind you that we always say there are three components to our economic development strategy,” Miller said.
“The first, of course, is retention. We want to hold on to companies that we have here. The second is expansion — we want to help them expand. And the third, of course, is attracting new businesses.”
This particular incentive falls under both retention and expansion, Miller said. He added the business plans to break ground on the expansion in April and complete it by the year’s end.
City council approved an enterprise zone tax incentive for Harris Welding and Machine Co. last June. That incentive similarly gave the business a 75% discount on its property taxes for 10 years.
It also passed a 100% tax abatement for 15 years for Pump House Hospitality, LLC, which plans to build a hotel in the Pump House District.
