NuStep receives extended tax abatement on $2.2 million infrastructure investment

NuStep Inc. received an extended industrial facilities tax exemption from the Pittsfield Board of Trustees, according to a report from the Ypsilanti Courier.

The company had been issued a three year abatement in August, but a new lease led the board to allow for a five-year extension to the abatement.

CEO Dick Sarns and NuStep have had a banner year, receiving the Presidential “E” Award for exporting excellence, hosting a visit from the governor, and acquiring more land adjacent to the current manufacturing center and offices south of the Ann Arbor Municipal Airport.

The tax abatement is for a $2.2 million investment, according to the Courier, and will give an initial 50 percent break in new taxes resulting from the improvements to the facilities. NuStep has also said it will add eight new jobs over the next two years as part of the IFT agreement.

Click here to read the full article from the Ypsilanti Courier

Ben Freed covers business for AnnArbor.com. Reach him at 734-623-2528 or email him at benfreed@annarbor.com. Follow him on twitter @BFreedinA2