Property Tax Incentive Approved for Northwest Side Plastics Firm
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A Jefferson Park plastics firm will expand its manufacturing facility through a Class 6(b) property tax incentive approved by City Council today.
The incentive will help Apollo Plastics Inc. construct a 9,800-square-foot warehouse on a vacant site adjacent to its 47,000-square-foot factory at 5333 N. Elston Ave. in the Elston-Armstrong Industrial Corridor.
“By lowering the operating costs of local manufacturers, the City of Chicago can support their viability and growth as part of a diversified business economy,” Mayor Rahm Emanuel said.
The company, which employs 70 people, makes injection-molded products for automotive and medical companies, among other clients. It will save an estimated $47, 500 in property taxes over the next 12 years through the incentive.
The $3.5 million project will create 10 additional jobs.
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