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Windsor to consider pair of incentive agreements tonight

WINDSOR — The Windsor Town Board will decide Monday night on a pair of incentive agreements to benefit relocating or retooling employers.

In both cases, the board will consider a reimbursement of half of the personal property taxes that the businesses would otherwise pay to the town over a 10-year period.

In the first case, as previously reported, Microvast Inc. bought the former Hexcel Corp. building at 31815 Great Western Drive in order to expand its Colorado operations. Microvast, a supplier of lithium-ion batteries, plans to use the Windsor building to assemble components manufactured elsewhere, according to Stacy Brown, economic development director for the town.

In materials provided to the Town Board, Zach Ward, president of the energy division for the company, said it intends to invest $17.5 million in the community, including the $11 million cost of the building, and create at least 50 new jobs in the first phase that pay an average of $85,000 a year. 

The 10-year net fiscal impact to the community of the operation will be $555,564, the board materials said.

In the other case, O-I Glass Inc. (NYSE: OI), formerly known as Owens-Illinois Inc., requested incentives in order to improve the chances that it would be able to rebuild its two furnaces over a three-year span. 

O-I, part of a company generating $6.4 billion in revenue, manufactures three million 12-ounce beer bottles a day for Anheuser-Busch.

Christopher Thie, assistant treasurer for Owens-Brockway Glass Container Inc., who signed the request, said the company would invest between $68 million and $90 million in its plant at 11133 Eastman Park Drive over three years as it replaces its two furnaces in a phased approach. 

The 50% reimbursement for its personal property taxes — which are paid on plant equipment — would total over 10 years to $846,184 for the town. 

Both companies also requested 50% reimbursements on personal property taxes from Weld County. In the case of Microvast, the county incentive would be $76,394 over 10 years, and Weld County has approved it. For O-I, the county reimbursement would be $1,057,765 over 10 years. That incentive has received preliminary approval but has yet to be finalized, Brown said.

Source: BizWest