MOUNT VERNON – The Knox County Commissioners have added their approval to a property tax abatement already approved by Mount Vernon City Council, the Mount Vernon City Schools and the Knox County Career Center. The unanimous vote was taken this morning. With the approvals the way is paved for PACS II Switchgear to expand their local facility and create 30 additional jobs paying $15 an hour.
As KnoxPages.com reported following Monday’s city council meeting, the abatement is a 10 percent, 15-year abatement of property taxes in return for a $3.4 million investment. Steve Waers of the Area Development Foundation told the commissioners that this will add $936,000 to the local economy in payroll.
The 3.4 million includes additions and new construction at 7860 Industrial Park Drive. In addition to creating 30 new jobs, the company will retain is currrent employment level at 55 positions.
The project will begin in April and be completed in November.
