City approves tax break for new molding and fiberglass facility at 701 West Laketon Avenue
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Summary
The commission approved a PA 198 industrial facilities exemption for 701 West Laketon Avenue, supporting a new 68,000-square-foot molding and fiberglass facility expected to create about 50 jobs and receive a 50% property improvement reduction across nine years.
The City Commission on Aug. 12 approved a PA 198 industrial facilities exemption certificate for 701 West Laketon Avenue, a parcel of the former Great Lakes Die Cast site. The certificate reduces the taxable value of real property improvements by 50% for a period recommended by staff.
Development analyst Jacqueline Hines said Molding Media of America, in partnership with SRS Fiberglass, plans a 68,000-square-foot facility to serve automotive, commercial interiors and HVAC markets. She said the company expects to invest in equipment and hire about 50 jobs over the next two years and signed a commitments letter to align hiring with city demographics.
Vice Mayor Saint Clair, who supported the motion, and other commissioners said SRS has a history of hiring and working with residents who face barriers to employment and that the project would put a vacant industrial site back to productive use. The commission approved a nine‑year exemption by roll call vote.