Newtown”™s Board of Selectmen and its Legislative Council have unanimously approved a business incentive package for Kimball Midwest, a maintenance, repair and operations (MRO) products business based in Columbus, Ohio.
Should the company accept the deal, it would receive an annual tax abatement of approximately 30%: $5,500 per year over three years.
Kimball Midwest has already bought the 40-acre former Hubbell Inc. property at 14 Prospect Drive for $4.4 million, and has said it will invest as much as $2 million more on improvements at the property.
The Newtown property would be used as a distribution center, which would create an estimated 30 jobs.
However, Kimball Midwest is still considering other locations, including New Britain, for what would be its fifth U.S. distribution center. If it does not decide to occupy 14 Prospect Drive, it would complete the renovations and put it back on the market.
