Heartwell expresses 'deep disappointment and anger' over Benteler's Grand Rapids plant-closing decision | MLive.com:
"In Grand Rapids, the announcement was disappointing because the city helped Benteler to establish a Renaissance Zone that eliminated state and local property taxes for the factory for 10 years and then, handed out four tax abatements which halved the company’s taxes on new equipment.
Last October, the city approved two property tax abatements for $7.3 million worth of new equipment that was to be installed over the following two years.
Benteler requested a 12-year property tax abatement for a new “hot form line” and “laser cutting cell” and a five-year abatement for “weld cells” that will be used on its contracts with Ford and Nissan.
The most recent abatements have been partially granted, according to city Economic Development Director Kara Wood."
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