Haverhill city councilors will consider granting property tax relief to an expanding Ward Hill business tonight.
As WHAV previously reported, Bay State Pallet Co. plans to spend $4.5 million to rehabilitate an existing 15,000-square-foot abandoned building in the rear of 293 Neck Road. The company, which moved to Haverhill in 2012, plans to build a two-story, 21,900-square-foot addition with loading docks on the 5.7-acre site. The building once housed Kerrigan Paper Products.
“This project represents the expansion of another essential business within the city,” Economic Development and Planning Director William Pillsbury Jr. wrote Friday in support of the tax break. “Bay State already operates out of 125 Ward Hill Ave., and this project will allow them to expand into the recycled and reclaimed lumber market…This is yet another example of a small family-owned business investing in Haverhill despite the pandemic.”
The City Council is being asked to authorize Mayor James J. Fiorentini to negotiate a tax increment financing agreement with bay State Pallet. The company was previously awarded a $5,000 state investment tax credit and the project is contingent on receiving a five-year subsidy from the City of Haverhill, valued at about $31,053.
It will create three new full-time jobs and keep 14 existing jobs.
The Haverhill City Council meets tonight at 7 p.m., remotely and in-person from the Theodore A. Pelosi Jr. Council Chambers, in Haverhill City Hall, room 202, 4 Summer St., Haverhill. As a public service, 97.9 WHAV plans a to carry the meeting live.