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    Hansens Aluminum gets initial grant approval for the planned facility in Henderson County

  • China Aluminium Network
  • Post Time: 2018/1/10
  • Click Amount: 272

    Hansens Aluminum which is planning to start operations in 2019 from its new plant within the Henderson County Riverport Industrial Park is expected to create 90 jobs. The planned 75,000 square-foot facility, to be built on 10-acres of land will connect this area to a global automotive industry. It has been built on Hansens' reach as an international supplier of aluminium automotive components.

    Hansens Aluminum is a South African company established in Port Elizabeth in 1956, has supplied to domestic customers as well as customers in Germany, Spain, the Czech Republic, Poland, Romania, Mexico and China.

    "The (Henderson County) facility will house extrusion presses, as well as CNC machine centers," said Donna Crooks from Kyndle, this region's economic development agency.

    Hansens company representatives, who first visited Henderson in 2015, liked the community and the area.  It had an advantage as the location would be next to material supplier Hydro Aluminum. It also had the benefits of possible local and state incentives, easy access to North American plants of their existing customers, low interest rates, low-cost gas and a stable power market.

    A number of hurdles are still to be crossed before the construction of the plant and the initial production of automotive parts.

    Last Tuesday, Henderson County Fiscal Court approved the first step in granting an industrial revenue bond, or IRB to the company, in the amount of $21.2 million payable during the next 30 years. The first phase of PILOT, or Payments In Lieu Of Taxes also got approved.

    Henderson County Judge-executive Brad Schneider said if these grants get final approval, both Hansens Aluminum and county residents will be benefitted by them.

    "With an IRB and a PILOT deal from the county, a company only has to pay back the loan (the bond) and is gifted the county property taxes until the loan is paid off," he said. "Once the bond is paid back, the company goes back on the regular tax rolls and pays its property taxes as usual."

    Granting an IRB is not a financial risk for Henderson County, Schneider said.

    "It's also a way we can assist both new and existing businesses in growing, which is what we all want ... without depleting the county's reserve funds," Schneider said. "This is a way we can help."

    Source: AlCircle.com
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