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Masaba Inc.’s new building is seen as an investment by the City Council.
The City council also stipulated things regarding Masaba Inc.’s new building. (Photo: Masaba Inc.)
A New Building For Masaba Inc.
Masaba Inc. is planning to build a new 125,000-square-foot building with new equipment in Vermillion City. The City Council approved a sales tax rebate of up to $250,000 to help with Masaba Inc.’s project, instead of the requested $300,000.
Masaba Inc.’s new building will be located on 317th Street and is projected to create 35 new jobs. The rebate will cover purchases made until June 30, 2025, and Masaba Inc. will deed the property to the City before receiving the payment.
Additionally, the City Council stipulated that Masaba Inc. must meet certain milestones to receive the full rebate amount. This includes completing the construction of Masaba Inc.’s new building on schedule and hiring a percentage of residents for the new jobs.
According to a published article by SmartNews, the council believes that this investment will not only benefit Masaba Inc. but also stimulate economic growth in the community.
Tax-Relief Bill
In a published article by the Kansas Reflector, Democratic Gov. Laura Kelly endorsed a tax-relief bill negotiated by a Republican-led committee that includes ending the food sales tax early, exempting all Social Security benefits from income tax, expanding residential property tax exemptions, increasing the standard deduction for income tax purposes, and cutting the top income tax rate.
The House and Senate agreed to end the state’s sales tax on groceries on July 1 instead of January 1. The bill also includes a $67 million increase in the standard deduction for income taxes, with the largest increase of 43% for single filers and a boost of 25% for married filing jointly and head of households.
