Council approvea ERA resolution for Complexus Medical

PLYMOUTH — at the latest meeting of the Plymouth Common Council, there was a public hearing for a tax abatement request from B&D Realty Holdings LLC Complexus Medical.

President and CEO of Marshall County Economic Development Corporation (MCEDC) Laura Walls reminded the council that during its last meeting, they had passed a resolution declaring an Economic Revitalization area for a property on Gary Drive that is occupied by Complexus Medical. She stated that Complexus Medical is a medical device manufacturing facility.

“Tonight you are considering real property tax abatement for seven years and a personal property tax abatement also for seven years,” Walls said. She went on to say that she ran the numbers on what the total abatement savings would be to Complexus if they approved the seven year abatement. “So, using their investment number, the total savings for the company for the real and personal over seven years totals about $260,000.”

City attorney Sean Surrisi shared that the current values of the real estate is at $1,370,000 and the estimated improvements of the real estate is $612,000. “So it would be that improved value that would be subject to the abatement. So it would be, I think, substantially lower on the real property amount on the overall calculations.”

Council Member Don Ecker Jr asked about the expected amount of new employees. Surrisi said that there would be ten new employees in the city with 90 total in the state. He said that from what he’s heard from the company, that number is intended to be “ramped” up.

Later on in the meeting, Resolution No. 2021-975 was presented to the council for approval. It was a resolution confirming

the adoption of a declaratory resolution designating the above mentioned real estate to be within an Economic Revitalization Area.

Council Member Greg Compton offered a comment before the council voted on the resolution.

“I guess traditionally I’ve been opposed to long term tax abatements on personal property. And it happens in this case the personal property here has a term of almost up to 20 years long. So, because of that I guess I am in favor of a seven year abatement. I think in the future on anything probably less than 10 or 15 I guess I would be opposed to anything more than four years,” Compton said. He added that he was completely in favor of real property.

The council voted in favor of approving the resolution.