Galion Provides Tax Incentives To Covert Manufacturing

  • 9/20/2018 5:53:12 PM
  • Sartaj Singh
  • Local News

GALION, OH - The City of Galion authorized an agreement to provide tax incentives as part of Covert Manufacturing $7.9 million expansion project. 

$2.3 million will be invested for the construction of a 51,480-square-foot building. The building will be within the existing campus. 

$5.6 million in new equipment will also be purchased. 

Through the Community Reinvestment Area program, Covert requested a 50% tax abatement. The abatement is placed on the increase of the assessed property value resulting from the project. 

The agreement is conditional to Covert creating 35 additional jobs, equivalent to an estimated $998,400 in annual payroll. 

The City of Galion announced they have also agreed to relocate a water line currently running through the project area, saving the company approximately $75,000. 

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