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Chrome Plus Tax Abatement Review: Driving Economic Growth

Explore Chrome Plus, a steel and aluminum processing facility, granted a 5+5 year tax abatement by the Office of Economic Development in 2012. Learn about their expansion, investments, and community benefits in this comprehensive review.

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Chrome Plus Tax Abatement Review: Driving Economic Growth

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  1. Chrome Plus5 Year Tax Abatement Review Office of Economic Development September 5, 2017

  2. Chrome Plus • Processes steel and aluminum for use by aircraft OEMs and suppliers in the manufacturing process • Located at 3939 West 29th

  3. Chrome Plus 3939 West 29th

  4. Chrome Plus • 2012 expanded facility and added new machinery & equipment • 20,000 square foot building addition, $1,142,900 capital investment • Purchase of additional machinery and equipment, $1,107,100 capital investment • Approved for 78.75% Economic Development Tax Exemption (EDX) on 5 + 5 year basis

  5. Chrome Plus: Addition

  6. Chrome Plus

  7. Chrome Plus

  8. Chrome Plus • 78.75% property tax abatement • 5 plus 5 year basis

  9. Chrome Plus • Value of one year 78.75% tax abatement City is $14,336 *Chrome paid $46,860.17 in 2016 general taxes

  10. Chrome Plus Updated Benefit/Cost Analysis:

  11. Chrome Plus • Recommendation: • It is recommended that City Council approve the second five-year 78.75% ad valorem tax exemption for Chrome Plus International.

  12. Chrome Plus 5 Year Tax Abatement Review Office of Economic Development Serving You, In Many Ways, Every Day

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