Global Parts Inc. is one of the industrial park tenants who have a tax abatement agreement with the City of Augusta.
In order to qualify to have their property tax bill abated, the company has to apply annually and meet certain requirements. The city will continue the program through 2018 as long as Global Parts has a minimum of 25 full time employees. If at any time in the final five years of the agreement – beginning in 2014 – the company fails to keep a staff of 25, they will have to make a payment in lieu of their tax bill.
That number isn’t much of a concern for Troy Palmer and Malissa Nesmith. Nesmith told the City Council Monday night that the company has 56 full time employees and has added two new entities this year.
The company has expanded its services to include manufacturing and repair and maintenance.
Nesmith told the council the company has even received an FAA certification that has increased their opportunities further.
“Things are still good in general aviation,” Palmer said. “But the new opportunities are exciting for us.”
Not only has the company met the minimum requirements of their tax abatement agreement, they have become one of the top supporters of community events.
“I just want to say that I appreciate Global Parts because every time there is an event or activity in town, they are a sponsor,” Councilor Ron Reavis said. The motion to extend the company’s tax abatement passed 8-0.