A tax abatement agreement between Sharps Environmental and the city of Carthage would see the company paying 60% of taxes over a five-year period.
The Carthage City Commission unanimously approved the agreement with Sharps Environmental at its Monday meeting. As part of the tax abatement process, commissioners also approved the creation of a tax reinvestment zone for the project.
Sharps Environmental plans to build a $3.5 million, 17,500-square-foot addition and add between 15 and 20 jobs to its Carthage facility. Sharps Environmental’s parent company, Sharps Compliance Inc., provides medical waste disposal management services.
The company had requested a 100% tax abatement for five years, followed by five years of reducing the abatement by 20% each year.
However the city’s tax abatement policy limits agreements to 60% for five years, with a provision that agreements could be extended under certain circumstances.
From Staff Reports