Councilman Ricky Simpson abstained from Monday’s vote.
The abatement will last for 10 years, according to the resolution.
According to information provided by Talladega County Economic Development Authority director Calvin Miller, the metal fabrication company located in the Brecon community will be purchasing a “$1,833,000 laser cutting system to enhance processing abilities.”
The investment will lead to the creation of four jobs over the next two years and increase the annual payroll by $190,000.
Miller’s information goes on to say that the waived, non-educational property taxes come to $9,165 per year for 10 years. Waived construction related taxes will come to $45,825, while waived mortgage and recording taxes will total $2,749.50. Major construction is set to be complete by Dec. 30, 2015.
By law, taxes specifically going to local schools cannot be abated.
Other than Simpson’s abstention and general questions about the nature of Weaver and Son’s business, the abatement was passed with little discussion.
Weaver and Sons spokesman Dyron Overton could not be reached for comment Tuesday afternoon.
Weaver and has been in business there since 1949.
Contact Chris Norwood at email@example.com.