Opelika council OKs tax abatements for growing Daewon

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Posted: Tuesday, December 18, 2012 11:02 pm

Tax abatements for Daewon America Inc. in Opelika were the main topic discussed during the Opelika City Council meeting Tuesday night.

The council approved a resolution for the abatement of certain taxes for the company, which is located in the Northeast Opelika Industrial Park. The abatements pair with a company investment of $16 million in capital for the purchase, acquisition and installation of new manufacturing equipment in its existing for a new coil spring line expansion in Opelika, which is estimated to produce 30 new jobs in the area. According to the ordinance, the equipment will be installed by May 31, 2013.

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