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Commission approves $20,000 economic development rebate agreement for Olympus Filters
5335859 · July 3, 2025
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Summary
The commission approved an ordinance and agreement allowing a rebate of the city share of property taxes to Olympus Filters capped at $20,000; staff reported the company’s capital investment and projected job creation.
Newton commissioners approved an economic development agreement and authorizing ordinance that rebates up to $20,000 of the city’s share of property taxes to Olympus Filters, a company leasing a facility at 1810 Southeast Ninth.
Staff described the agreement as a tax-rebate style incentive paid in increments until the…
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