Since it was founded in 1995, Jer-Den Plastics Inc. in St. Louis has undergone steady growth.
Now it’s expanding once again.
The St. Louis city council approved Jer-Den’s application for an Industrial Facilities Exemption Certificate at its meeting Tuesday night.
The move will allow the company a 50 percent reduction in property taxes over the next 12 years on its $295,000, 5,875 square foot project.
The expansion will also result in adding two new jobs to Jer-Den’s current 75-person workforce.
When complete the company will have 63,875 square feet of manufacturing space.
The resolution approved by the city council noted that the tax break “shall not have the effect of substantially impeding the operation of the city of St. Louis, or impairing the financial soundness of a taxing unit which levies valorem property taxes in the City of St. Louis.”
In addition, council members also OK’d selling the company an additional lot adjacent to its current 6.5 acre facility in Woodside Industrial Park West for $41,610 that it plans to use for future expansion purposes.
“The city is excited to have thriving industrial businesses such as Jer-Den located here and look forward to seeing their latest project happen,” Downtown Development Authority Director Phil Hansen said.
According to its website, Jer-Den designs, develops and manufactures rotationally molded plastic products for a variety of applications, including commercial, construction, agricultural, industrial, materials handling, marine, recreational vehicle and toy manufacturing industries.
It also offers secondary in-house services such as routing flame treating, foam filling, spin welding and hardware installation.
The company’s tax exemption application will now go before the Michigan Tax Commission for final approval.
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September 23, 2021 at 02:17AM
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St,. Louis grants Jer-Den Plastics tax break for expansion - The Morning Sun
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