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Committee recommends tax abatements to support GTA Containers expansion at 445 North Sheridan
Summary
The committee voted 4-0 to forward two confirming resolutions: an 8-year real property abatement (Bill 25-10) and a 5-year personal property abatement (Bill 25-11) to support GTA Containers’ $11.1 million expansion and equipment purchase at 445 North Sheridan Street.
The Community Investment Committee voted 4-0 to forward two confirming resolutions that would grant tax abatements to support an expansion by GTA Containers at 445 North Sheridan Street.
Mark Behmender, manager of business development, told the committee the project will create a new 112,000-square-foot facility and install new equipment as part of a combined investment of roughly $11.1 million ($8.8 million for the facility, $2.3 million for equipment). Behmender said GTA Containers currently employs 143 full-time workers and expects to add about 15 employees by the end of 2027.
Behmender described the abatement math: the proposed eight-year real property abatement (Bill 25-10) would abate about $704,000 in taxes while generating approximately $833,000 in tax dollars to the city over the same period. For the five-year personal property abatement (Bill 25-11), Behmender said the equipment investment is expected to produce roughly $184,000 in additional taxes across five years, of which $131,000 would be abated and $53,000 would accrue.
Isaac Hall of Great Lakes Capital, a development associate listed as a petitioner, said the investment will benefit the LaSalle Park neighborhood as well as the city. Igor Popov, identified as CEO of GTA Containers, said the company plans to add a third building on its existing campus and is available to answer technical questions.
No public commenters spoke for or against the measures in committee. Committee members recorded unanimous support; clerks recorded ayes from Committee Member Gooden Rogers, Committee Member Bolden Simpson, Committee Vice Chair White and Committee Chair Warner. Both Bill 25-10 and Bill 25-11 will be sent to the full council with favorable recommendations.
