Franklin City Council approves Air Atomic's tax abatement for expansion project

The Franklin City Council convened on April 21, 2025, to discuss significant economic developments, including a tax abatement request from Air Atomic, a local aerospace company. The meeting highlighted the city’s ongoing efforts to stimulate economic growth and job creation in the region.

Air Atomic, which specializes in FAA repairs, is seeking a 10-year tax abatement for a $2 million investment in real property and an additional $1 million for personal property. This investment will fund a 20,000 square foot expansion of their facility on Linville Drive and the hiring of 27 new employees at competitive wages ranging from $30 to $35 per hour. The Economic Development Commission (EDC) reviewed the request and recommended a 7-year abatement for real property and a 5-year abatement for personal property, a decision aimed at aligning with similar incentives offered to other businesses in the area.

During the public hearing, representatives from Air Atomic provided insights into their operations and growth plans. The company, which has expanded its workforce from 25 during the COVID-19 pandemic to 65 currently, emphasized the need for additional space to accommodate further growth and enhance operational efficiency. The council members expressed their support for the project, recognizing its potential to bolster the local economy and create jobs.

In addition to the tax abatement discussions, the council reviewed yearly compliance reports for various companies benefiting from previous abatements. These reports indicated that most companies are meeting or exceeding their employment and investment commitments, reflecting positively on the local economic landscape.

The meeting concluded with a report from the Clerk Treasurer regarding the completion and submission of the annual redevelopment commission report to the Department of Local Government Finance, ensuring transparency and accountability in the management of Tax Increment Financing (TIF) districts.

Overall, the council's discussions underscored a proactive approach to economic development in Franklin, with a focus on fostering a business-friendly environment that supports job creation and community growth. The next steps will involve finalizing the tax abatement resolutions and continuing to monitor compliance with existing agreements, ensuring that the city remains on track to achieve its economic goals.