A building owner will get a tax break to build an expansion for a growing aerospace company in Franklin.
Franklin City Council members approved a tax abatement for J.M. Stevens Enterprises for a $200,000 expansion at 215 Industrial Drive. The abatement will phase in property taxes over a seven-year period, saving the owner $28,306 in taxes, according to paperwork filed with the city.
The 4,000-square-foot expansion will create more room for Sargent Aerospace and Defense, which plans to add at least three new jobs with salaries totaling $133,120.
Sargent does specialized repair work on airplane parts, and pays its employees salaries higher than the average for the county, Franklin planning director Krista Linke said. The company currently employs 15 people with total salaries of about $935,000.
J.M. Stevens Enterprises applied for a 10-year tax break, but the city’s economic development commission decided to approve it for seven years instead, said council member Kenneth Austin, who is a member of that board.
Board members discussed reducing the request to a five-year tax break due to the investment amount and number of jobs created, but settled on the longer term to offer additional support for the growing company, Austin said.