Property tax incentives approved today by City Council will support the continued operation of two industrial companies on the Northwest and Southwest sides.

Independent Mechanical Industries, 4227 N. Knox Ave.
The renewal of a Class 6(b) tax incentive for Independent Mechanical Industries in the Knox Industrial Corridor will help the company retain 10 full-time jobs by lowering the property taxes on its facility for the next 12 years. The original Class 6(b) incentive, issued in 2004, supported the construction of the 48,000-square-foot building for the company’s manufacturing and office operations. The estimated $1.2 million in tax savings through the renewal period will support the addition of more than 30 new jobs. Founded in 1923, the company specializes in the installation and maintenance of mechanical systems.

Murrihy Pallet Co., 1919 W. 74th St.
The renewal of a Class 6(b) tax incentive for Murrihy Pallet Co. in the Greater Southwest Industrial Corridor will help the company retain 10 full-time jobs by lowering the property taxes on the facility for the next 12 years. The original Class 6(b) incentive, issued in 2002, supported the purchase and renovation of the 93,000-square-foot building for Murrihy’s pallet manufacturing and recycling operations. Total tax savings over the renewal period are estimated at $209,000.

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