Howell says yes to Thai Summit tax break - Livingston Daily
Howell-based auto supplier Thai Summit received approval from the city Monday for a 12-year tax break on a $12. 5 million expansion project. The tax break exempts Thai Summit from real property taxes on improvements made to its property at 1480 McPherson Park Drive. 5 million in property improvements include new press lines and a new 54,000 square foot building. They are also expected to and are expected to add 30 new jobs to Thai Summit’s local workforce of 527. The project is expected to take two years to complete. In addition to the $12. 5 million in property improvements covered under the tax certificate, the company is also expected to add $40 million in new machinery. Thai Summit stamps and assembles aluminum car and truck parts for Ford, Jeep and Freightliner. The 12-year recommendation was based on a number of factors, including Thai Summit’s near 30 years in Howell, its projected number of new jobs and the cash value of its new investment. The city can withdraw the tax exemption if Thai Summit fails to complete the project within two years or reduces its employment below current levels. Source: www.livingstondaily.com
