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City vote allows expansion by STAFCO |
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Friday, November 28 2008 |
By TJ HEMLINGER
Staff writer
The Columbia City Council voted Tuesday night to create an economic revitalization area for Steel Tank and Fabricating Corp. (STAFCO) at 365 S. James St. on the city’s west side. The ERA will allow STAFCO to expand its facilities and add equipment, including three 15-ton cranes, new welders, pipe rolls, a band saw and other fabricating equipment.
The council also voted to give STAFCO a five-year tax abatement on the equipment and a 10-year abatement on the building.
Carl Norris, vice president and general manager of STAFCO, said the company, which has been in Columbia City since 1951, has never before applied for a tax abatement.
The company wants to add 120 feet to its current building, which is 180 feet long.
“The tanks (we build) keep getting larger,” Norris said.
The company will add four or five more jobs with annual wages of $104,000 with the expansion.
“We’re looking at this for the future, not just next year,” he said. “A lot of our business is oil-based customers. The big business is hot asphalt, and virtually every tank we build is 30,000 gallons. Business has been very strong.”
The real estate portion will be completed by April 30, and the equipment should be in place by the end of the year.
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Last Updated ( Tuesday, December 02 2008 )
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