Company installed $834,000 of new equipment to retain jobs
Ludington, MI - Great Lakes Castings installed more than $800,000 of new equipment in its Ludington plant this year and will seek a tax abatement on that new equipment from the Ludington City Council.
The additions will allow Great Lakes Castings to be more competitive in the industrial market for castings weighing between 8 and 50 pounds, and, in his application for the tax abatement, company President Rob Killips said it will help the local foundry retain 18 employees.
If the council approves the abatement, the company would be able to save half the tax money it would otherwise have paid on the new equipment for six years. The city would still get half the additional tax revenue from the plant during those first six years and the full amount in following years.
Great Lakes Castings started installing the new equipment in June and finished in November, according to the application for an industrial facilities tax exemption certificate filed by the company.
That expenditures include:
• $483,482 for Disa matchplate molding equipment and $88,900 for installation costs
• $210,698 for a Didion drum
• $21,907 for a plotter
• $10,996 for a wet tensile strength machine
• $10,729 for an aerator
• $10,000 for a vertical mill
The city council scheduled a public hearing on the request for 7:30 p.m. Monday, Dec. 17 and it could vote that night on the tax abatement.