City grants tax abatement for HyundaiPublished 2:17pm Monday, December 23, 2013
Officials with the City of Greenville have approved approximately $1.2 million in tax breaks for Hyundai Motor Manufacturing Alabama.
The Greenville City Council voted unanimously at its Dec. 16 meeting to grant the company a 10-year tax abatement that covers all state and local non-educational taxes and all construction related transaction taxes with the exception of those levied for educational purposes or for capital improvements for education.
The abatement was granted in response to Hyundai Manufacturing’s plans to install new tooling equipment at the Hwashin America plant, which is located in Greenville.
In March, the city granted Hwashin a 10-year tax abatement to aid in its plans for a $25 million, 100,000-square-foot expansion at its Greenville facility.
The expansion will allow the company, which produces chassis and body components for Hyundai and Kia, to add production and welding lines to accommodate the increased demand for parts for Hyundai’s Sonata, Elantra and Santa Fe. Company officials said it will also create 30 new jobs at the facility, which already employs approximately 700 people.
Greenville Mayor Dexter McLendon said the decision to grant the abatement to Hyundai was an easy one.
“It’s an honor and a privilege for us to have them here in Greenville,” McLendon said. “If they hadn’t come, I don’t know where we’d be. Whenever we can do something to help them grow as a business, we need to do it, and thank them for being here.”