PORTAGE (WKZO-AM) — The Portage City Council has given its final approval for a 12-year, 50 percent break on local property taxes for Pfizer’s $140 million expansion plan.
The big drug firm plans to add a new warehouse to their manufacturing facility on Portage Road. They also plan to convert current warehouse space into a state-of-the-art facility for making a special vials for particular types of drugs.
It’s a glass-half-full proposition. Over the life of the tax break, The city of Portage and several other county taxing units will be foregoing about $17 million in taxes, but the company will pay $17 million they would not have paid if they located the new facilities elsewhere.
Work has already begun to prepare the site for the new warehouse.
