When All the Pieces Fit Together
Monday, September 21, 2015
The right size parcel of ground and a tax increment financing option were the final pieces of the puzzle to help Dan Janssen decide to expand and move his Ford dealership.
Janssen & Sons Ford has purchased 5.53 acres on west Hwy. 6 & 34 from the Phelps County Development Corporation.
The land, which is across from BD and the Lee Janssen Motor Co. Chevy store, had been previously owned by the Holdrege Industrial Development Corporation and was turned over to PCDC in 2012. PCDC has been marketing the site for new or current business expansion opportunities for many years.
Dan Janssen, owner of Janssen & Sons Ford, said the land was the perfect size for his expansion.
“And, I liked that it’s right across the street from the Chevy dealership,” he said.
Janssen said the TIF financing was a major factor in the purchase of the land.
“I wouldn’t have done it without it,” he said. “That was a huge piece of it.”
Janssen said PCDC staff helped complete the TIF application prior to the sale.
Janssen said construction was scheduled to begin on the new location in late September with an expected completion date of spring 2016.
The new location will give the dealership about 5,000 more square feet with a total building size of 17,000 square feet. He hopes to hire three new full-time employees and offer a larger inventory. The new location will also offer a quick-service lane for minor jobs like oil changes, tire repairs, wheel alignments and new windshield wipers without customers having to make an appointment.
Tax increment financing allows for the increased property taxes generated from an improvement to be used to help finance the improvement for up to 15 years.
Boyken said tax increment financing is important for business owners looking at expansion possibilities because it helps with cash flow, especially in those years right after the large project expenditures have been made.
Boyken said PCDC has many resources available to help current business owners looking at building or expansion projects. Anyone considering a project is encouraged to make PCDC their first stop for a confidential meeting and help with financing or location incentives or ideas.
For more information, contact Monica at PCDC at (308) 995-4148 or visit the web site at www.phelpscountyne.com.