Terex GTH 636 telehandler.

The Baraga Village Council has granted Terex Handlers' request for an industrial tax exemption to help fund its plant expansion and bring jobs to the community (Forkliftaction.com News #330).

Terex has asked for a 50% tax abatement over 12 years on USD1,791,317 of building improvements, machinery and equipment, the Houghton Mining Gazette reported. The council on Monday voted in favour of a six-year tax exemption with a six-year extension contingent on Terex fulfilling its obligations.

A key obligation is job creation, with Terex expecting the expansion to bring 75 jobs to the community in two years.

The tax exemption for the full 12 years would save Terex USD253,000. It is offered through Michigan's Industrial Facility Tax Exemption Program and is the first of its kind to be granted by the village council.