The Jefferson City Council unanimously approved issuing bonds to Axium Plastics on Monday night as the company continues its factory project.
As part of Chapter 100 Industrial Development Revenue Bonds, Ohio-based Axium Plastics will receive 75 percent personal property tax abatement for equipment purchases for seven years and 75 percent real property tax abatement on real estate occupied by the project for 15 years.
Axium Plastics plans to build a factory in the Jefferson City Area Chamber of Commerce's spec building at the corner of Shamrock and Algoa roads. Operations began in October.
According to the bill, the project would provide approximately $26 million in capital investment and create a minimum of 70 jobs as part of the project.
"I think it's great to have our new neighbors and community partners in the neighborhood," Ward 2 Councilman Rick Mihalevich said. "Their investment is significant to growth and the number of jobs is well-needed, and we look forward to their continued growth."
The council also approved amending a contract with Architects Alliance to pay them $47,330 to design and implement final construction plans for the relocation of the Municipal Court.
The Municipal Court currently operates out of the Council Chambers and will move to the City Annex on Monroe Street after the renovations, which include an updated courtroom, offices for prosecutors and judges, an assigned waiting area, a security area, transaction desk and private consultation room. The building will have updated bathrooms and benches for judges and clerks.
During Monday's meeting, the council heard a proposal to allow parking on the east side of Southridge Drive, between Bubba and Sun Meadow lanes. Central Technologies hosts trainings at its facility and wants to offer parking in front of the building.The Jefferson City Transportation and Traffic Commission approved the proposal last month.