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November 5, 2013
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Sponsored by Bay Area Chamber of Commerce
Cambron Engineering To Invest $373,254
November 5, 2013
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The Bay City City Commission approved a 12-year Industrial Facilities Tax Exemption Certificate for Cambron Engineering for new machinery and equipment purchased in the amount of $373,254 to further boost machine shop efficiency.
Steve Sheppard, President of Cambron Engineering, plans to create two new positions as a result of this project bringing the total number of employees to 47.
Cambron Engineering, an employee-owned company, designs and machines aerospace, automotive, food processing, and chemical mixing equipment for nearly 400 customers worldwide. Since 2004, Cambron Engineering has invested over $1.5 million in new equipment in Bay City.
"We are pleased to see the company continue to grow, invest, and create new jobs in Bay City," stated Patti Stowell, the City's Economic Development Marketing Manager.
New taxable value of $186,627 will be added to the abatement assessment roll. New city property tax from the investment will be $1,991 and the same amount abated by the city in the first year under the 50 percent tax abatement. Other taxing entities would share $4,238 of new taxes and collectively exempt $4,238 in the abatement?s first year.
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