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Holland council approves speculative tax abatement reservation for Electric Steel expansion
Summary
The Holland City Council on March 19 approved speculative Industrial Facilities Tax reservations for Electric Steel LLC to cover four new industrial units, a roughly $4.2 million, 58,000‑square‑foot expansion that the city says will reserve abatement rights for future manufacturing tenants for nine years.
HOLLAND, Mich. — The Holland City Council approved a request on March 19 to reserve speculative Industrial Facilities Tax (IFT) abatements for Electric Steel LLC as the company expands by four new units.
Community and Neighborhood Services Director Mark Myers told the council the project represents a $4,200,000 investment and will add about 58,000 square feet of industrial space,…
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