Mayor Tom Lowry and members of the Three Rivers City Commission have agreed to a tax-abatement request sought by Precision Wire Forms.
The action was taken during Tuesday’s meeting, when Lowry and commissioners mulled the 12-year Industrial Facilities Tax-Exemption Certificate for the West Broadway Road business.
Company officials indicated Precision Wire Forms is expected to make a $1.3 million investment in machinery and a number of accessories. The measure is expected to add five jobs to Precision’s current 54-person payroll.
Additions to the plant are expected to be in place by mid-summer next year.