BENTON HARBOR — Benton Harbor-based New Products Corp. said it received the first tax abatement in the company’s 90-year history Wednesday night in a hearing with Benton Harbor’s Emergency Financial Manager Joseph Harris.
NPC president and CEO Cheryl Miller thanked the city for an opportunity to present the company’s request at the public hearing. Also, attending and speaking in support of NPC were Shelley Klug, executive director of the Southwestern Michigan Economic Growth Alliance and the Berrien County Manufacturers Council, and Wendy Dant Chesser, president of Cornerstone Alliance, who provided an endorsement from both Cornerstone and the Chamber of Commerce.
In addition, nearly 20 people including three city commissioners, several NPC employees and members of the community stepped up to give comments and support for the company’s request.
In December, NPC was approved as an industrial development district, which is the first step in the process for tax abatement approval.
NPC’s request is for a 50 percent tax abatement for 12 years for its investment of $860,000 in new machinery and equipment that will provide for six new jobs and enable the company to produce the next generation of green engines.
“Receiving the state’s tax abatement will allow us to grow and create more jobs and business for Michigan and our local community,” said Miller, who estimates that last year NPC spent more than $2 million with 40 local businesses in addition to the company’s philanthropic support of Benton Harbor.
Following the hearing Miller said, “We are extremely grateful to everyone who came out tonight to support our request and eagerly await approval of our request so that we can move forward.”
New Products Corp. was founded in 1922 in Benton Harbor by Walter Miller, an electrical engineer and prolific inventor. Over the past 90 years, NPC has become a global supplier of custom, precision die cast aluminum and zinc parts for thousands of applications in a variety of industries, including automotive, military, industrial machinery, medical instruments, household appliances, transportation equipment, furniture and fixtures, and more.
Today, NPC is a TS 16949 certified, woman-owned small business, recognized for its “world class” quality.
For more information, visit www.newproductscorp.com.