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Perry approves TIFF aid and contracts to secure ADR Axles USA manufacturing project
Summary
Perry City Council approved amendments to the city's urban renewal plan and a package of agreements that add ADR Axles USA as a project, increase tax-increment financing assistance by $100,000 and accept a state economic development contract to support a planned 65,000-square-foot manufacturing facility expected to create 35–50 jobs.
Perry City Council voted unanimously to add ADR Axles USA to the Perry urban renewal plan and authorize tax-increment financing and related contracts to support the company’s planned manufacturing facility in the city’s industrial park.
City Administrator Finn told the council the project is expected to be a roughly $146 million investment and would create an estimated 35 to 50 jobs in a new, about 65,000-square-foot building. "We had agreed to the $900,000 originally as part of tracking them to Perry," Finn said, referring to the amount of TIFF assistance the city will provide. He added that, with the city’s current projections, "it's about…
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