MOUNT VERNON — FT Precision in Fredericktown is looking to add on to its facility and employee roster if a $6 million tax abatement is approved.
Steve Waers, director of the Knox County Area Development Foundation, met with the Knox County Board of Commissioner on Thursday requesting its approval for the tax abatement. The company has proposed a 65,000 square-foot expansion at the facility which would allow for the adding of 62 new jobs.
“This would be our fourth expansion in less than 20 years. This shows good signs,” said Waers. It would be a 15-year tax abatement which would start 36 months after the completion of construction, which is set to begin in October.
“We want to move forward as quickly as possible,” said Waers. “We have met with township trustees, and they have no problems. The school boards have also approved (the abatement).”
The commissioners gave unanimous approval for the tax abatement.