BIW gets $3.7M tax break on expansion
Bath Iron Works will get a $3.7 million property tax break on a $32 million outfitting hall in Bath that the company said they might not have been able to build without the deal.
The Portland Press Herald reported BIW will get the tax break over 15 years. That’s a change city councilors made to the company’s original request for around $6.3 million in tax breaks over 25 years.
The plan generated local opposition from people who argued the shipyard would expand regardless of the tax breaks. Officials at BIW’s Virginia-based parent company, General Dynamics, said it was possible the company might not be able to expand the facility without the tax break. That, they argued, would put more of the shipyard’s jobs at risk.
The shipyard said earlier this year that it plans to complete the 11-story, 51,313-square-foot outfitting hall in 2015. The building is to include two 200-ton bridge cranes that would allow installation of piping, ventilation, electrical consoles and other equipment into the vessels the shipyard builds for the U.S. Navy.
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