FORT SMITH -- A local manufacturing company with eyes set on expansion now has the support of two government entities to participate in the state Tax Back program.
The Sebastian County Quorum Court unanimously approved a resolution during its meeting Tuesday endorsing Kopco Inc.'s participation in the program.
County Judge David Hudson wrote in a Dec. 2 memo the Tax Back program is an initiative for expanding businesses with a $100,000 minimum investment, as well as one to attract new manufacturers to Arkansas.
A summary of the program included in the meeting packet states it provides sales and use tax refunds on the purchase of building materials, machinery and equipment in conjunction with a project. A business needs an endorsement resolution from the local government entity authorizing the refund of its local taxes and the Arkansas Economic Development Commission's approval to qualify.
The Fort Smith Board of Directors unanimously approved a resolution certifying the city's endorsement of Kopco Inc. for the program at its meeting Dec. 14, according to a summary of that meeting.
Jeff Dingman, Fort Smith deputy city administrator, wrote in a memo to City Administrator Carl Geffken that Kopco Inc. plans to add machinery and equipment to its location at 8307 Ball Road to upgrade productivity and meet increased demand. Equipment costs for this project will range from $500,000 to $1.5 million.
Danny Aldridge, justice of the peace for District 6, made the motion Tuesday to approve the resolution. He said it is a good thing any time the Quorum Court can help a local industry expand and by extension increase both employment and money going back into the community.
The Quorum Court also adopted an ordinance Tuesday approving the county budget for 2022. The grand total appropriated for this budget between all the relevant funds came out to more than $49.3 million, according to the ordinance.
Hudson previously told the Northwest Arkansas Democrat-Gazette the county will have 403 full-time employees for 2022, in addition to 115 part-time and extra help employees.