(Milford)– Polaris Industries is about to expand its presence in the area even more.
It was announced at this (Mon.) evening’s Milford city council meeting the company has taken out a three year lease on the entire facility that formerly housed Klaussner Furniture, or Style Craft. The city council approved the concept of an economic development agreement with the company consisting of up to a million dollars in tax increment financing to be appropriated annually over 10 years. A public hearing and formal action on the proposed package will be held at the council’s November 12th meeting.
Polaris spokesman Brian Hines declined to say exactly what will be manufactured at the Milford plant. The company has been producing its GEM line of electric vehicles on a limited basis out of a small part of the Milford facility…(click here for comment from Hines.)
Hines says they’re on a fast track to renovate the Milford facility, with hopes to begin operations on a larger scale there early next year.
He says talks with the city had been ongoing over the past couple of months. Hines adds Polaris Industries had been looking at other possible sites for the expansion, but in the end decided on Milford…(click here for comment from Hines.)
While city officials expressed their gratitude for the company deciding on Milford, so too were representatives of the Iowa Lakes Corridor Development Corporation. President and CEO Kathy Evert…(click here for comment from Evert.)
Evert says having the former Klaussner facility available was actually a godsend, adding its immediate availability was crucial…(click here for comment from Evert.)
Hines didn’t put a dollar amount on the company’s investment in the Milford expansion, only to say it will be very significant.
