Madison Approves TIF to Support ATV Supplier Expansion
Subscriber Benefit
As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe Now
The city of Madison Redevelopment Commission has created a new tax increment financing allocation area to help support a planned $60 million investment by Madison-based SuperATV LLC. The ATV parts and accessories supplier announced plans in October to expand its operations and create more than 300 jobs.
The city this week entered into an economic development agreement. The redevelopment commission says the allocation area will generate $1.5 million for the city.
“This financial commitment is truly transformational for our city as we work towards growing Madison and our workforce. The city is grateful to SuperATV for their investment and for working with the Redevelopment Commission and the city to create high paying jobs in our vibrant community,” said Mayor Bob Courtney. “We are excited to see this growth in Madison and look forward to the great things to come.”
The project will be completed in two phases. Phase one will include a 125,000 square foot expansion of the existing facility for production, logistics and warehousing, and is projected to be completed in 2023.
“SuperATV is proud to call Madison home. We are thankful to the Redevelopment Commission and the City of Madison for their continued support, which has allowed us to grow and give back to the community,” said SuperATV President Lindsay Hunt.
The company says the additional jobs will generate $17 million in annual payroll income for the area.
