NORTH LIBERTY — Hydro Extrusions North America, a manufacturer of aluminum products here, will get a $1.1 million tax break over a decade-long period to support a $9.5 million expansion project.
The North Liberty Town Council voted 3-1 on Monday to approve 10-year real and personal property tax abatements for the company’s 180-employee plant, located at 400 S. Main St.
Voting in favor of the agreement were Gerry Brown, Will Groves and Tom England.
Matthew Peterson said he voted against the deal because he “didn’t know enough” about it and wanted to hear the opinion of Councilman Randy Lemert, who was absent.
The approval of the deal comes after company officials referred to the possibility of the plant closing if the project didn’t move forward, warning that operations could be consolidated at one of the company’s other facilities. Although the project is expected to create some jobs, the company didn’t estimate how many.
The project calls for spending $8.5 million on various equipment, including a $2.5 million extrusion press that will be used to make a wider variety of aluminum products. About $1 million will go toward plant renovations, including the construction of a maintenance building. The project is expected to be done by June 2021.