Meyer Distributing seeking tax abatement for planned expansion
Meyer Distributing, owned by Braun Family Properties, originally began in Haysville by Leo Meyer as Meyer Body Inc. in 1937. Current CEO Mike Braun purchased the company in the mid-80’s and began selling truck accessories. The company opened their first warehouse in Jasper in 1998. Currently Meyer Distributing sells aftermarket vehicle accessories throughout the United States.
Braun told the commission on Wednesday that Meyer Distributing has continued to grow at an average rate of 17% a year and now has locations throughout the nation. With the growth the company is looking to expand its headquarters in Jasper. It is also exploring expansion in Dallas, TX due to Texas being the company’s largest market.
The original warehouse in Jasper has expanded twice to about 100,000 square feet. In addition to the original location, they have purchased the Stens building on Cathy Lane and are leasing the GT Industries building with plans to purchase it as well. Once the purchase of the GT Building is completed, Meyer Distributing plans on building a connection between two buildings. On Monday the company learned the building housing Valspar Coatings that is located between these two buildings could be purchased as well.
Across the road from is another property Meyer Distributing owns and plans to continue to develop.
The $4 million expansion plan Meyer Distributing has will increase their existing storage in Jasper by 300,000 square feet. It will create 94 new full-time positions with a weighted average pay rate of about $16 an hour. Additionally 14 part-time positions would be created.
The commission tallied a score of over 115 points for the proposal Meyer Distributing made. The scores are based on many factors like jobs created, green initiatives, community involvement, capital investment and history in the area. Meyer scored high on most of the factors and qualified for the highest tax abatement available.
If approved by the Common Council the abatement would mean Meyer Distributing’s improvements property taxes would be abated for up to ten years. The first eight would be 100% abated and the final two years would be abated at a percentage of the assessed value.
Braun pointed out that Jasper was the companies intellectual headquarters and they are dedicated to continuing to grow locally. “We want to offer higher paying intellectual jobs that attract young people back to the area,” he told the commission.
Braun sits on the board for the I-67 Development Corporation and Braun pointed out the necessity of a north to south highway through the county. He stated this is the number one item future businesses will consider in locating in the county.
“It’s a long-term endeavor that has just begun,” he said, “but for a company like ours we would be handicapped in the long run by having to use the existing two lane roads to get to the interstates. If you had it where you were right in the intersection, it would be one of the first check-marks any large business would make in considering moving here.”
The tax abatement request will be reviewed at the Common Council meeting on Wednesday, August 22 at 7 p.m.
Congratulations to Meyer Distributing and to the City of Jasper for working together on a great project.
The comments of the Interstate are true. Congratulations on choosing Jasper as your headquarters, and also for speaking the truth for the long term growth of our county and area at large.