ASHLAND -- Ashland City Council approved a tax incentive Tuesday for a longtime area business's proposed $8 million expansion.
In exchange for a promise to retain and add employees, Lippert Enterprises will receive a 10-year, 75 percent tax reduction for its new construction on Faultless Drive.
Lippert Enterprises is expected to construct a 122,400 square-foot building for approximately $8,092,000.
Within two years of the project's completion, Lippert Enterprises is to create an estimated four new full-time, permanent employee positions with a payroll of $115,000 and retain 50 full-time permanent employees in Ashland.
"The (tax abatement) request is right in line with what we've done for some of our other longterm businesses out in the industrial park," Mayor Matt Miller said when describing the legislation at the Council meeting.
"This is a great local company that's continued to grow here and not only continued to grow here, but also consolidated all its operations here in Ashland."
He went on to explain that the expansion will accommodate the expanding needs of Lippert Enterprises and PCA Ashland, which uses a warehouse owns by Lippert Enterprises. PCA Ashland needed additional space, too, Miller said.
Several member of Council spoke highly of Lippert Enterprises before unanimously passing the legislation.
"Lippert Enterprises has been a part of the community for a long time, and we want that to continue," at-large councilman Dan Lawson said.
Ashland County Commissioners will also review the tax incentive in the near future.
In other news from Tuesday's Meeting:
Council approved accepting two privately owned streets and utility easements.
The city acquired Walnut Creek and Magnolia Drive from the Woodview Homeowner's Association. The streets will now be maintained by the city of Ashland.
They were initially constructed as private streets and do not fully comply with the City of Ashland's standards for public streets, as the streets have an inverted crown and lack public sidewalks.