Commission OK’s abatement for ALGIXPublished 10:28pm Tuesday, March 26, 2013
During their regular meeting, the Dallas County Commission unanimously approved a property tax abatement for ALGIX, a bio-resin production facility that recently moved to Dallas County.
Wayne Vardaman, executive director for the Selma and Dallas County Economic Development Authority, explained that through this abatement, ALGIX will not have to pay property taxes in full amount for up to 10 years.
“This is just a resolution that needed to be approved so I could send it to the state revenue department,” Vardaman said after the meeting. “The revenue department will end up taking care of all the paper work and the company will have to go to the tax office each year to get the abatement.”
An abatement, Vardaman said, is often made for industries as a way to entice them to come to a certain area. In this case, Dallas County saw ALGIX as a beneficial industry and thus suggested the abatement.
Dallas County Probate Judge Kim Ballard explained that the abatement is a win-win for ALGIX and Dallas County because with their business, ALGIX will provide up to 40 jobs for Dallas County residents.
“You have to think about it in a way that this business is bringing workers, who will then be buying houses and spending money in Dallas County, contributing the economy,” Ballard said. “Tax abatements are something that are very popular in attracting industries. This is something that’s historically been done.”
ALGIX, a green business based in Athens, Ga., plans to invest $550,000 at the former Gold Kist location on U.S. Highway 80 West and employ 40 people when it reaches full operation.
“We’re glad they decided to locate here,” Vardaman said. “And it’s just an added bonus that they’re environmentally-friendly.”
ALGIX takes algae then dries and compounds it to create a plastic-like material.