German Firm Gets Local, State Tax Breaks For Plant Expansion Project
Columbus City Council last night approved 3.2 million dollars in tax breaks for a German auto parts maker to expand its plant on South 3rd Street on the South Side. Hirschvogel Automotive is getting a 60 percent income tax break and a 10 year, 75 percent property tax abatement. Columbus Development Director Steve Schoeny says the 50 million dollar plant expansion project will create 37 new jobs and retain 332 others.
Schoeny says the city will cover any property tax revenue the Columbus City Schools will lose under the abatement. In March, the Ohio Tax Credit Authority approved a 68 thousand dollar tax break for the same project. The expansion is expected to be completed in December. The company reported more than 900 million dollars in sales last year.