existing businesses to grow in Windsor. Manufacturing businesses retaining a minimum of 50 jobs are eligible to apply under the program.
Successful applicants are eligible to receive an annual grant for up to 100% of the municipal property tax increase created by an investment in development or redevelopment of a building or property—provided it conforms with the Economic Revitalization CIP. The annual grants may continue, at Council's discretion for up to 10 years or until up to 100% of the eligible investment costs are repaid.
Eligible Sector
Flex-N-Gate is eligible under the manufacturing sector:
Manufacturing
Manufacturing Companies engaged in the fabricating, processing, assembling, packaging, producing or making goods or commodities, including ancillary repair, storage, wholesaling or office uses.
Employment
According to the CIP application, the proposed development would retain 580 jobs currently located at the Ellis Street East facility and add 112 new jobs.
Proposed Construction
The applicant proposes to add 12,500 square feet of manufacturing space to accommodate new equipment and renovate existing portions of the building to create an employee cafeteria and new locker rooms.
CIP Objectives
The proposed business expansion and recommended Business Retention and Expansion Grant supports the following CIP objectives:
- Encourage investment that results in the productive use of lands and/or buildings for the purposes of establishing or maintaining a business enterprise, or the expansion of existing businesses to realize more effective use of the land's potential;
- Encourage capital investments that create new and/or maintain existing permanent jobs, as well as short-term construction jobs that contribute to the reduction of the unemployment rate;
- Provide financial incentive programs that are attractive to potential investors and corporate decision-makers, but are balanced with expectations of City taxpayers and the City's ability to fund the financial incentive programs;
- Encourage the redevelopment of the City's historic industrial sites resulting in the