Jacksonville Council grants abatement to local industry

A Jacksonville knife manufacture has announced plans to expand their operations and The Jacksonville City Council agreed Monday to support the companys effort with a tax abatement.  The city council has agreed to give Bear and Sons Cutlery, located near Alexandria-Jacksonville Road, a sales tax break on $479,789 worth of equipment purchases. In addition, the City Council agreed to give the company a property tax break; the value of the break — which doesn’t affect the portion of property tax that funds education — will total about $20,000 over the next 10 years. The value of the sales tax break is about $12,000, according to figures presented at the meeting.  Ken Griffey, president and owner of the company, said the new equipment will enable Bear and Sons to attract new clients and to hire six new employees. Griffey also said the company has purchased a new building for packaging purposes.  The abatement offering from the city marks the second such move by Jacksonville in recent months. In October the city offered abatements to Shelco Foundries in an effort to encourage that company to expand. In February, Shelco announced that it will add 106 jobs by the end of 2015.