City of Parma may give payroll-tax rebate to Valley Freightliner
PARMAA company that moved to Parma in December will probably receive a tax break from the city.
Valley Freightliner, Sterling, Western Star would benefit from a 12-year tax rebate. For each of those years, the city would rebate 46 percent of the company’s payroll taxes.
In exchange, Valley Freightliner plans to create 10 new jobs and $350,000 in additional payroll over the next two years. The company now has 50 workers and $2.91 million in payroll.
On Monday, City Council introduced an ordinance that would allow the rebate agreement. Council referred the ordinance to its Finance Committee.
Valley Freightliner is leasing a building at 10901 Brookpark Road. It sells chassis for medium- and heavy-duty trucks.
The company moved into Parma after an August arson fire destroyed its former building on West 150th Street in Brook Park.
Valley Freightliner, in a Feb. 12 application form to the city, said it requested the payroll-tax rebate because its rent in Parma increased to $20,000 a month from $16,000 a month in Brook Park.
Also, the company’s property tax increased to $51,000 a year in Parma from $32,000 a year in Brook Park, the company said.
Valley Freightliner added that it intends to improve its new Brookpark site by, among other things, paving the parking lot.
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