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Agency approves tax incentives for BG Warehouse LLC; company to expand operations
Summary
The agency approved a final authorizing resolution granting BG Warehouse LLC sales tax exemptions and a five-year real property tax reduction; staff reported the company exceeded prior job targets and plans new investment in equipment and building work.
The board approved a final authorizing resolution for BG Warehouse LLC that authorizes sales tax exemptions valued at $131,250 and a reduction in real property taxes for five years valued at $687,002. The assistance was described as a deviation from the agency’s uniform tax exemption policy and was approved subject to counsel review.
Speaker 3, an attendee/representative, summarized the company’s prior pilot and job performance: "They they had a 10 year pilot. Okay? Then they they were supposed to create maybe 20 jobs. They created probably about 85 or something." Staff advised the current project will include tenancy changes and use of about 60,000 square feet to expand operations and that capital plans include about $3,000,000 for equipment and $3,000,000 into the building itself. Staff also said there is no mortgage recording tax on this project because the company owns the building.
A motion to adopt the resolution was moved and seconded and passed on a voice vote recorded as "All in favor? Aye." The agency said the company expects to create more jobs than originally required (staff estimated 30 jobs for the new phase, compared with the original 10 assigned in some materials). The public hearing on Feb. 4, 2025 drew no public comment, according to staff.
