A new joint economic development district (JEDD) won unanimous approval from Canton City Council to help a local business remain in the area, reports CantonRep.com. Stolle Machinery has outgrown its facility on Marion Avenue in Canton, and the company plans to relocate to Jackson Township. City council approved the JEDD with Jackson Township, which “will allow the city and township to charge employees an income tax,” according to the article. The city will then return half of the taxes collected to Stolle for 10 years to help with relocation costs. Townships generally do not have authority to collect income taxes outside of a JEDD agreement. In 2010, the city of Canton and Jackson Township “approved a cooperative economic development agreement that encourages them to partner by providing shared services and incentives for businesses.” That agreement also forbids Canton from “annexing any township land for 50 years.” Jackson Township trustees have approved the JEDD for Stolle Machinery. For more, read the full article.
Canton city council grants tax incentive and JEDD for Stolle Machinery
