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A South Chicago packaging manufacturer would expand its workforce through a property tax incentive introduced to City Council today by Mayor Rahm Emanuel.
“Our goal is to strengthen neighborhoods by supporting programs that help businesses stay competitive and improve the local economy,” Mayor Emanuel said.
The Class (6)b incentive would help Paket Corp. maintain 71,000 square feet of manufacturing space at 9165 S. Harbor Drive by lowering the property tax rates on the facility for the next 12 years. The company would partially allocate the estimated $343,000 in tax savings by adding five new jobs.
Founded in 1957, the 63-person company makes tubes, tubs, cans and bottles for use with cosmetics, foods and various household products.
The incentive, available through Cook County, would renew an earlier property tax incentive that helped the company rehabilitate the facility for modern industrial uses.
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