The county commissioners on Monday approved an "incentive agreement" with hopes it will help bring a manufacturing company to Delta County and fill an empty industrial building.
MITI manufacturing, Co., which describes itself as a manufacturer of wheel locks and portable decontamination equipment, is currently located in Clifton. The company approached the county several months ago about the possibility of tax incentives if it were to move its operations here.
The company is interested in the building formerly occupied by Industrial Systems Incorporated (ISI) at 5513 Highway 348. According to the Delta County treasurer's office, the building emerged from foreclosure in March 2016 and is owned by a local bank.
The commissioners have offered the company an incentive of waiving annual property taxes owed to county government on the building for a period not to exceed five years. To earn and maintain the waiver, the company will have to occupy the building, increase its employment base here by five full-time workers within three years, and maintain that level of employment for the next two years.
The buildings and property the company is interested in are located partly within the City of Delta and partly outside of it in the county, commissioners said. The City of Delta has no property tax.
The property tax waiver offered by the county is for only the portion of property taxes paid by the company that would go directly in to the county general fund. According to the county assessor's office, that amount was about $2,562 in 2016.
County administrator Robbie LeValley said the company is considering relocation. She said there is no set time frame for the company to move.
Commissioner Don Suppes said, "I am always leery of these types of agreements. You run the risk of setting a bad precedent." He noted the need for jobs.
Commission Chair Doug Atchley noted the building is a unique property that is suitable for numerous uses. Industrial Systems Incorporated did heavy manufacturing and fabrication work for mines, and for other energy, industrial, and natural resources projects throughout the region.
Delta's second annual "Kickoff to Christmas" takes place Saturday, Nov. 25. This event is sponsored by the Delta Area Chamber of Commerce and First Colorado National Bank.