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January 25, 2012
New Products Corporation Receives Approval for Industrial Development District

BENTON HARBOR, MI-- Benton Harbor, Mich. (January 25, 2012) – In December, New Products Corporation (NPC) learned that it received approval from the City of Benton Harbor for the company’s property at 448 North Shore Drive to be established as an industrial development district.

The approval as an industrial development district enables NPC to seek a property tax abatement to help purchase CNC equipment, valued at approximately $850,000, to produce the next generation of engine head covers for a U.S. automotive manufacturer and to add new jobs. The public hearing for the tax abatement request is scheduled for Wednesday, February 29, 2012.

“The approval as an industrial development district is great news for our company, customers and employees,” said Cherie Miller, NPC’s president and CEO. “Receiving the property tax abatement would help put us on a more level playing field with other companies in the area.”

Miller also noted that this is the first time NPC has applied for a property tax abatement in the company’s 90 year history. NPC is requesting an abatement of 50% of the tax due on the amount over a 12 year period, similar to tax abatements granted other companies in southwest Michigan.

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