An automotive components manufacturing company is asking for another payment-in-lieu-of-taxes agreement to expand its existing plant in Washington County.
The Washington County Industrial Development Board voted Tuesday to send a five-year PILOT deal to the County Commission calling for the company, which the Press has identified as Koyo/JTEKT located in the Washington County Industrial Park, to enter into an equipment lease with the county.
The deal also stipulates the county will provide it with a 75% property âtax abatement over a graduated schedule of three years running from the time of each capital expenditure.â
In return, the company will make a capital investment of $12.3 million in Washington County to expand its product line, and to add 25 jobs to its current payroll of 159 full-time employees at the Telford plant.