Albion, Michigan has offered Guardian Fiberglass a further incentive to expand its operations in the city. The council unanimously passed a 100%, 10-year exemption to personal property tax for the fir…
Albion, Michigan has offered Guardian Fiberglass a further incentive to expand its operations in the city. The council unanimously passed a 100%, 10-year exemption to personal property tax for the firm on 21 June 2004. Guardian Fiberglass said earlier in June 2004 that it wanted to expand its operations either in Albion or in an unnamed Texas location. The company said it would invest USD 26.5 million and would create up to 150 jobs over five years. Guardian Fiberglass is a subsidiary of Guardian Industries, headquarted at Auburn Hills, Michigan. The Albion plant employs 224. The Michigan Economic Development Corp. has already offered Guardian a USD 1.6 million tax credit to expand in Albion, but the company has made no commitment so far. Peggy Sindt, chief executive officer and president of the Albion Economic Development Corp., said after the 21 June meeting that she was optimistic about Albion“s chances of getting the plant. A decision is expected within a few weeks. Sindt said the council still has to decide whether to grant a second abatement, this one for 50% for up to 12 years. Guardian still needs to provide more information before the council can make that decision. Together, the tax abatements have a value of at least several million dollars, Sindt said. Albion has been struggling with job losses for nearly two years.