City may rebate Valley Freightliner payroll taxes
Citing rate increases during a recent move, Valley Freightliner could receive a tax abatement from the City of Parama, Ohio – the dealership’s new home.
The dealership, also known as Cleveland Freightliner, was forced from its Brook Park location following a fire last August.
The dealership could benefit from a 12-year tax rebate, Cleveland.com reported. For each of the dozen years, the city would rebate 46 percent of the company’s payroll taxes. In exchange, Valley Freightliner plans to create 10 new jobs and $350,000 in additional payroll over the next two years.
Valley Freightliner, according to the website, said it requested the payroll-tax rebate because its rent in Parma jumped $4,000 per month, from its Brook Park rate. The company’s property tax soared to $51,000 a year in Parma, up from $32,000 a year in Brook Park.