Chelsea approves $230,000 in incentives for Therachem facility
Published 12:03 pm Wednesday, January 22, 2020
CHELSEA – The Chelsea City Council approved an incentives package totaling about $230,000 for an existing early-stage biopharma company that plans to build a new facility in the city.
Following a public hearing during which no one spoke for or against the incentives for Therachem MediLab, the Council unanimously approved the package.
Chelsea’s incentives include the donation of almost 1 acre of land located in the Chelsea Business Park valued at about $123,000, infrastructure assistance valued at about $7,000 and abatement of sales and use taxes totaling $100,000.
Taxes earmarked for education are not included in the abatement.
Therachem purchased about 1 acre of land in the business park with plans to build the new facility on one acre and hold the other acre for future growth.
The company employs five people at its location off Chesser Crane Road, but the new facility would allow it to enhance its production and research and development, with a target employment of 20 people at the planned location.
Chelsea’s incentives will be combined with incentives from Shelby County and the state of Alabama.
Shelby County’s incentives total about $90,500 and include a jobs credit rebate and the abatement of property and sales and use taxes.
Alabama’s incentives total about $1.35 million and include a jobs credit, investment credit and the abatement of property and sales and use taxes.
In other business, the Council:
- Authorized the execution of contracts for a tax audit and business license collection services. The business license collection services will be aimed at identifying businesses that have not purchase licenses as required by the city.
- Approved a rezoning request from TCG Chelsea Acres LLC for 10.62 acres of its property from E1 (single family district) to PRD (planned residential district).
- Approved a resolution to award Nick Grant funds to Chelsea Park Elementary School.
- Heard from a resident who lives off Liberty Road about the nuisance created by logging at property near his residence.