GTI Expansion Clears Hurdle

Anderson Mayor Thomas Broderick

Listen to this story

Subscriber Benefit

As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe Now

This audio file is brought to you by

0:00

0:00

Loading audio file, please wait.

Speed
1.00

• 0.25
• 0.50
• 0.75
• 1.00
• 1.25
• 1.50
• 1.75
• 2.00

Ohio-based Greenville Technology Inc. is one step closer to claiming incentives for a major expansion in Anderson. Our partners at The Herald Bulletin report the Anderson City Council has approved two resolutions to begin the process of granting tax abatements for the $24 million expansion.

GTI announced last month it will increase the size of its facility by 140,000 square feet. Construction is expected to begin later this month. The expansion is expected to create 110 jobs by 2018.

Anderson Economic Development Department Director Greg Winkler said GTI is requesting a 100 percent, 10-year tax abatement for the purchase of new equipment and a 68 percent, five-year abatement for the investment into new real property, according to the publication. Winkler said the abatements would save the company $2.8 million over ten years and GTI would pay $700,000 in taxes over the same period.

The Anderson City Council will vote on final adoption of the tax abatements on April 14.