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Council approves 5‑year personal property abatement for Rapid Prototyping & Engineering
Summary
Franklin City Council unanimously approved Resolution 2025‑10 granting a five‑year personal property tax abatement to Rapid Prototyping & Engineering for an $880,000 equipment investment and a small net hiring plan.
The Franklin City Council voted unanimously on Aug. 18 to approve a five‑year personal property tax abatement for Rapid Prototyping and Engineering under Resolution 2025‑10.
Community development specialist Dana Monson presented the request and said Rapid Prototyping has been in Franklin since 2019 and is adding equipment in a 2023 expansion at 1424 Commerce Parkway. Will Harvey, representing the company, described the new machinery as higher‑precision machining equipment intended to produce advanced components for a defense sector customer. "This piece of equipment allows us to do even more advanced machining," Harvey said, and the company said the investment will support higher‑paid, technical positions.
Monson told council the investment in personal property totals about $880,000. Rapid Prototyping proposed hiring two new positions at starting wages of $27 per hour; Monson said the company’s current average wage is $22 per hour and that the firm agreed to a 5% economic development fee included in the resolution. The project is located in an enterprise revitalization area (ERA).
Councilmember motion and a second carried; the mayor called the vote and members present voted in favor. The council’s approval authorizes the city to grant the personal property abatement consistent with the submitted application and the terms in Resolution 2025‑10. The company confirmed the equipment will expand its capacity for specialized machining and that the work supports production for autonomous and defense applications.
