Jennmar to Expand Sudbury Operations
The city of Sudbury will contribute nearly $1 million to Jennmar, enabling the company to expand its local footprint and relocate jobs from the United States to Greater Sudbury.
Under the Community Improvement Plan program, Jennmar will receive tax relief worth almost $1 million.
- The Tax Increment Equivalent Grant (TIEG) is $184,915 per year for a period of five years.
- The maximum approved grant is $924,577.
The TIEG program grants dollars back to the proponent once the full cost of the property tax is remitted to the city on an annual basis.
Author's summary: Jennmar receives $1 million tax relief to expand operations.
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