By Ralph Echtinaw
St. Louis city councilmen granted Woodside Industrial Centre denizen Jer-Den Plastics a tax break on a planned 5,875-square-foot expansion Tuesday, Sept. 21.
The Industrial Facilities Exemption reduces the property tax on the new building by 50 percent over 12 years.
The new building costs $295,000 and will bring Jer-Den’s total square footage to 62,875. The company employs 75 people. Two new jobs are expected to be created by the expansion.
In a related move, council approved the sale of four acres in the industrial park to JAS Industrial Real Estate (a holding company for Jer-Den Plastics) for $41,610.
That leaves the city with three vacant lots left in the Woodside Industrial Centre.