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Walpole still falling behind Attleboro

April 3, 2011

The City of Attleboro gives tax breaks to businesses that invest in vacant and contaminated properties throughout the city. The Attleboro Sun Chronicle reports that the program paid off tremendously for the city recently, as Stergis Aluminum Products Corp., which recently left Walpole’s anti-business climate, is creating high-paying skilled jobs by taking over a contaminated brownfields site in Attleboro. The city will earn about $900,000 in new taxes over 20 years plus nearly $200,000 in back taxes, while Stergis gets a tax rebate of about $641,000 over 20 years. I am not a mathematician, nor am I a tax expert, so I am not sure how this works out but the city of Attleboro and Stergis both seem to feel this is a win-win situation. “The building [Stergis took over] has gone from a disintegrating shell on the verge of becoming a tax liability to a cash producing enterprise, [city] councilors said,” according to the Sun Chronicle.

Walpole has numerous vacant and contaminated properties throughout town. The fact that Stergis, which used to be located in Walpole, moved out of town in order to get a tax break is a slap in the face to our economic development efforts. Walpole should follow the lead of Attleboro and give tax breaks to companies willing to create good jobs on contaminated and vacant properties. Let’s start by giving tax breaks to any company willing to take over the Kahana.

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