on March 11, 2013 by admin in Cleveland, Comments (0)

City of Parma may give payroll-tax rebate to Valley Freightliner

Valley Freightliner may receive a tax rebate from the city of Parma. This photo was submitted by Valley Freightliner.  

PARMA

A 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.

See more Parma news at cleveland.com/parma.

216-986-5478 bsandrick@sunnews.com

Twitter: @BobSandrick

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Article source: http://www.cleveland.com/parma/index.ssf/2013/03/city_of_parma_may_give_payroll.html

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