HATTIESBURG,MS (WDAM) - The Hattiesburg City Council granted an ad valorem tax exemption for nine companies in the city Tuesday evening.
During the meeting the council adopted a resolution granting the exemption, which in most cases will end December 31st of 2020.
ADP President, Chad Newell, answered some concerns of council member Deborah Delgado about granting the exemptions. Newell said the incentive to allow the exemption for the companies is the economic benefit they provide.
Hattiesburg City Council President, Kim Bradley says the city wants to keep these businesses and the city won't lose any money.
"We are not losing money. We haven't collected any money on it in the past. These are new dollars that are invested in these companies." said Bradley. "Whether it is in buildings, real estate, or whether it is in furniture fixtures. Equipment to enhance their business for more manufacturing. They are probably generating more jobs. That is what we are about. What our business needs to be is making room for these businesses, or allowing these businesses to do business."
The following companies were granted the tax exemptions...
- Kholer Company
- Mississippi Tank Company
- Resinall Mississippi, Inc.
- Hattiesburg Paper Company, LLC
- Rexam Closure Systems
- Zeon Chemicals
- Industrial Welding Supplies of Hattiesburg, Inc (d/b/a Nordan Smith Welding)
- Safe Guard Building Systems, LLC
- Western Container
All of the ad valorm tax exemptions granted do not apply to state and school district ad valorem taxes.