City awards tax exemptions to two companies
by Associated Press
Published: December 10,2012
Tags: city, device, economic development, electric, employee, employer, employment, government, incentive, job, manaufacture, manufacturer, manufacturing, medical, medicine, municipal, municipaslity, tax, tax exemtion, tool, work, worker
OLIVE BRANCH — Two companies have requested and received tax exemptions from Olive Branch city government in preparation for moving into sites along the Polk Lane corridor.
The Commercial Appeal reports Milwaukee Electric Tool, which announced early this year that it would move to another site within the city to expand, and Millstone Medical Outsouring, a medical device industry partner, received the exemptions for 10 years.
Governments commonly provide tax exemptions as incentives for companies to move into their boundaries and provide additional tax revenue and jobs. The county is expected to provide the companies with similar tax reductions.
While Milwaukee will be exempt by Olive Branch for about $40,900 annually and Millstone will be exempt for about $18,700 annually.
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