The city of Mobile’s Industrial Development Board approved tax abatements for two companies looking to locate facilities in Mobile and hire more than 100 employees.
On Thursday, both companies — Ray-Mont Logistics, out of Canada, and the Fishin’ Company — were awarded 10-year non-school property tax abatements and sales and use tax abatements during the construction process.
Ray-Mont Logistics, which will import plastic resins to the Port of Mobile through a partnership with Alabama Export Railroad, will receive a total sales and use tax abatement valued at $920,000 and a property tax abatement of $730,000 over a decade.
The company plans to hire 50 employees at an average salary of $70,000 annually, Mobile Area Chamber of Commerce Vice President of Economic Development David Rodgers said.
“That is huge for us,” he said of the salary average. “That’s well above our average.”
Ray-Mont Logistics and the railroad have pledged a $19 million investment. That number breaks down to a $15-million investment for the logistics company and a $4 million for the railroad, Tom Brinkley, a local attorney representing the companies, said. Over 20 years, that investment is expected to bring $22 million back to the community.
Brinkley said the partnership hopes to add more jobs in the future. Ray-Mont has three other facilities, two in Canada and one in Seattle.
The Fishin’ Company and parent group Ren Seafoods is set to open a seafood processing plant inside the Smith’s Bakery Building on the Interstate 65 Service Road, Rodgers said. The company will buy the building currently being used by Frios Pops and the two companies will use it for the time being, Rogers said.
The processing plant looks to hire 50 to 60 employees at an average salary $40,000 annually, Rodgers said. Like Ray-Mont, Ren will receive $400,000 in sales and use tax abatements as well as $700,000 in non-school property tax abatements.
The company is expected to bring $30 million back to the community over the next 20 years, Rodgers said.
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