(SEYMOUR) - Seymour's Valeo Sylvania is adding more jobs this year as the company expands in a growing automotive industry.
Nick Hedrick of The Banner reports that the automotive lighting products manufacturer, located in the city's industrial park, plans to hire 51 additional employees. Currently, the company employs 1,103 workers, and all of them will keep their positions as the company grows, Sylvania spokesman Matthew Morley said.
On Monday, Feb. 25, the city council granted Sylvania a $24 million, 10-year tax abatement to be used for "manufacturing equipment to support capacity increase and business growth," according to a statement of benefits provided to council members.
Morley indicated more jobs could be added later on. Details on when openings would be announced, new employees will be hired and salary information was not immediately available.
With the 51 additional employees, overall salaries will be increased by $1.5 million, according to the statement of benefits.
Over the 10-year abatement, the company will be 100 percent exempt from property taxes during the first year and phase in payments in various increments after that.
Have a question or comment about a news story? Send it to comments@wbiw.com
1340 AM WBIW, Bedford's Place To Talk. Serving Lawrence and surrounding counties since 1948!
© 2014 Ad-Venture Media, Inc. All Rights Reserved. WBIW.com and Listen Live Powered by HPC
