Reifel Industries is looking to invest around $6.6 million
July 7, 2018 – Reifel Industries is looking to invest around $6.6 million in its property on Ohio Street, with $2.5 million of that going to building improvements, said Matt Davis, executive director of the Williams County Economic Development Corporation. “The balance is in machine equipment and inventory,” he added. “The promise here is 15 new jobs across three years minimum, adding $600,000 in payroll.”
The council approved the company’s request for a 60 percent abatement on the increase of property value over the course of 10 years. Davis estimated Reifel will save around $31,400, with the full assessment being closer to $50,000. “That won’t be a real number until the work is done and the auditor appraises the property and it gets put on the books,” he said. “That is based on estimated costs turned in to us.” From the council, the abatement will go to the Williams County Commissioners for approval before being filed with the state.