The Herald, Sharon, PA Published Tuesday, July 11, 2000

BROOKFIELD

Trustees OK abatement sought by Sharon Tube

By Beth Baumgardner
Herald Staff Writer

Brookfield Board of Trustees Monday approved Sharon Tube Company’s request for a 60 percent tax abatement over 10 years to aid in its move from Hubbard to a new building in Brookfield Township.

Sharon Tube plans to move from 500 Erie St., Hubbard, to 6880 Parkway Drive in Brookfield by 2002.

"It’s a win-win situation for both," said David J. Krozier, Sharon Tube chief financial officer, who added the move to Brookfield will bring about an $8 million investment into the community.

Sharon Tube’s main facility is in Sharon, but other facilities are in Wheatland, Niles and Hubbard.

Sharon Tube now leases the Hubbard facility. The company was going to purchase the building, but an environmental audit showed it needed too many repairs, Krozier said.

Trustee Janalyn Saloom said before agreeing to the abatement, trustees wanted to know what the company would do for the township.

Krozier said the company, which already has 21 employees, agreed to add five more jobs -- prioritizing Brookfield and Masury applicants -- within two years of completing the move to Brookfield.

Also, Krozier told the trustees Sharon Tube will spend about $3.8 million to but the Brookfield facility.

Sharon Tube will use the abatement to purchase equipment, not property, Trustee Gary Lees said.

But Krozier added about $8 million will be invested in the move. This money will not be tax deductible, he said.

"So we’re not getting a break on that," Krozier said.

Saloom and Krozier both said they could not estimate what the abatement will amount to in tax dollars.

Sharon Tube also will ask Trumball County Commissioner’s approval for the abatement at the commissioner’s meeting on Wednesday.



Back to TOP // Herald Local news // Local news headlines // Herald Home page



Questions/comments: online@sharon-herald.com
For info about advertising on our site or Web-site creation: advertising@sharon-herald.com
Copyright ©2000 The Sharon Herald Co. All rights reserved.
Reproduction or retransmission in any form is prohibited without our permission.

0006**