A Franklin company will get an additional tax break to add another $5 million in equipment to its plant and an extra year to purchase it.
Nitrex Inc. was granted a tax abatement in 2011 to add $2.9 million in equipment that would add 12 new jobs and retain 25 workers. As of this year, the company had purchased $1.3 million of that machinery and not hired the 12 workers, Franklin community development director Krista Linke said.
The company, which does metal heat treating at its plant at 350 Blue Chip Court, now plans to add additional equipment that will help it meet the original job goals. The company will spend the additional $5 million to add new furnaces, according to the abatement request.
The taxes on all the equipment will be phased in by 10 percent each year over the next 10 years. The tax break will save the company about $400,000 in taxes over that period, according to abatement paperwork.
Franklin City Council members unanimously approved amending the original tax break to a total of $6.3 million and to give the company until the end of 2014 to buy the equipment, instead of the end of this year.