A tax abatement agreement between Sharps Environmental and the City of Carthage would see the company paying 60 percent of taxes over a five-year period.
The Carthage City Commission unanimously approved the agreement with Sharps Environmental at their Monday meeting. As part of the tax abatement process, commissioners also approved the creation of a tax reinvestment zone for the project at that meeting.
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 originally requested a 100 percent tax abatement for five years, followed by five years of reducing the 100 percent abatement by 20 percent each year for the next five years.
However the city’s tax abatement policy stipulates agreements should be at 60 percent for five years, with a provision that agreements could be extended under certain circumstances.