Bensalem Township Council approved a Local Economic Revitalization Tax Assistance (LERTA) for a vacant property that will bring up to 3o0 jobs with at least a $50 million investment from a nationally known company seeking to move its national headquarters to the Trevose section of the township.
The building in question, sits on 4626 Somerton Rd,, and was going to be occupied by a business from Philadelphia before the move was canceled, causing the building to be left vacant.
Lower Bucks Source was the first to report about the proposed move last month.
Council President Ed Tokmajian Jr said Council wants to take a proactive approach to shaping Bensalem’s future.
“That includes developing protections around potential data center development, while also working to attract businesses that bring jobs, investment, and long lasting benefits to our community.”
“This property that we’re going to be speaking of this evening is an example of that effort and through ongoing discussions with the potential buyer, we have an opportunity to bring in an established business to Bensalem. With substantial private investment and up to 300 potential jobs,” he said.
Tokmajian told council that he’s spoken with the business owner to get an idea of what their operations were all about, and came away from the meeting feeling that they would be a strong partner for the Bensalem Township community.
“The proposed LERTA would provide a 10 year exception from the township real estate taxes on the added construction improvements, taxes on the land existing permits remain payable, added taxes value becomes taxable after the exception ends,” Tokmajian said.
Credit: Josh Thompson, Lower Bucks Source contributo
“It’s an opportunity to shape what comes to Bensalem and put an existing property to good usem,” he said.
Jeff Darwak, Executive Director of the Bucks County Redevelopment Authority gave a presentation going over the building and if it met the criteria to be considered for LERTA requirements.
“The area it’s located in is the state designated KOEZ Enterprise Zone (Keystone Opportunities Expansion Zone), which is a program aimed to stimulate job creation and investments in underutilized or abandon properties,” Darwak explained.
“It’s my opinion that the property meets the LERTA requirements. LERTA will provide a significant redevelopment incentive for the subject area and the vacant 320,000 sq.foot industrial property.”
State Senator Frank Farry (R-Bucks) accompanied by state Rep. K.C Tomlinson (R Bucks) spoke to council about the project.
Farry said he met the CEO of the company yet to be named, and said they are a fourth generation family owned business that was shopping around for other sites.
“Ultimately they continued shopping for sites, and to the benefit of the 6th district, 18th district, and Bensalem township, they found a building that they felt met their needs better here.”
Farry explained that the company moving in would not only provide Bensalem with 230-250 jobs, but said jobs would range from unskilled to highly skilled labor.
“Perhaps one of the more important parts, this will become the corporate HQ for that 4th generation nationally branded manufacturing company,” Farry said.
He explained that for as long as he’s been a Senator, opportunities like this are extremely rare.
“A lot of our work is making sure the right companies are coming to our community. It’s family held, it has stood the test of time, and I look forward to who we can announce who’s coming here, because I think we’ll all be very proud that their choosing Bensalem as not only their manufacturing home but their cooperate home as well. Their investment in the community here between purchase, construction, and equipment is probably gonna be a minimum of $150 million.”
Farry would add that the company would give people with no skills a chance to learn a skill and ultimately end up with a family providing job.
Tokmajian added that he’s proud that the company chose Bensalem over other area’s out of state, even though those offers were more appealing to the company in question.
Councilman Joseph Wenzel Jr. asked solicitor Joseph Pizzo what the timeline was in regards to getting the LERTA passed. Pizzo explained that it’s a four step process, with the first two being done that night at the meeting.
“It’s actually a four step process, but we’re getting two done tonight. The township has to take the lead, the township establishes the LERTA, then the school district and the county will adopt resolutions similar to the ordinance that you’ll be considering tonight, and each one has to act independently. If for some reason the school district or the county were not to join in on this project, then their portion of the real estate tax would not be accepted, and could put the project in jeopardy.” Pizzo explained.
Mayor Joseph DiGirolamo said the opportunity was an extraordinary one for Bensalem.
“An out of state company leaving and coming here to bring all those jobs here. The LERTA is a way to bring these companies in and give opportunities.”
Council voted in favor of establishing the property for the LERTA and the ordinance establishing the LERTA for the property in the township.
“This is the first time we’ve ever gotten something like this done.” Tokmajian said.
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