SOUTHFIELD — At its July 21 meeting, the Southfield City Council approved the creation of an Industrial Development District and a property tax exemption for the company Maxitrol, which manufactures gas valves.
At the meeting, the Maxitrol Co. requested its property, located at 23555 Telegraph Road, be designated as an Industrial Development District as provided under the Plant Rehabilitation and Industrial Development District Act of 1974.
The main goal of the IDD is to create reinvestment in Southfield and to also allow a possible tax abatement for new real and personal property in the district, officials said.
Approximately $3 million will be invested into the property to expand the current 34,000-square-foot facility to 45,000 square feet.
Also, 14,000 square feet of existing office and laboratory space will be renovated to meet Maxitrol’s current technological and growth demands.
“They’re outstanding corporate citizens,” said Rochelle Katz-Freeman, business development manager for the city of Southfield. “We’re thrilled they’re making a commitment to stay in the community, and the facility is going to be absolutely beautiful.”
Maxitrol also submitted a request for real property tax exemption, which falls under Michigan Public Act 198. This would provide expansion and renovation of not only their existing building, but also new machinery and equipment.
The tax exemption was requested for seven years, proposed to begin in 2014. At the meeting, it was stated that the anticipated amount of city taxes to be abated is $112,000.
Southfield resident Stephanie English stood up to speak at the meeting in support of Maxitrol. English compared providing a tax abatement to Maxitrol to purchasing a house and having somebody help her to fix it up.
“Eventually, when I finish that house and have it all spruced up, I’ve improved the neighborhood I live in; there’s a property value increase,” English said at the July 21 meeting. “I think that’s a relative example of this situation and why it’s valid, and why it’s important for our city. We need to be business-friendly.”
Maxitrol has been in business since 1946, and its company headquarters are located in Southfield.
For more information, call Southfield Business Development at (248) 796-4160.
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