Fort Smith Directors Approve Tax Incentives for Umarex USA
Fort Smith city directors unanimously approved tax incentives for Umarex USA at Tuesday night’s board meeting. The company recently announced it is expanding and plans to bring more than 100 jobs to Fort Smith.
“It’s something that the city can do to help out industries here in Fort Smith and companies to grow,” said City Director Kevin Settle.
In November the gun distributor announced it is teaming up with Walther Arms, Inc. The companies plan to build a $7 million expansion and bring more than 100 jobs to the area.
The expansion makes Umarex USA eligible for the state’s tax back program.
“If they add jobs or if they expand their businesses then they can get a break on the sales tax that they pay on the materials to expand their building,” said Deputy City Administrator Jeff Dingman.
The city says approving the tax incentives promotes job growth.
“One of the best ways to mine new business is to grow the businesses that are already here,” said Dingman.
Directors hope the tax rebates attract more business.
“It does show that we’re willing to hopefully bring other companies here or grow companies that we have here and stabilize this area and help grow the economy here in Fort Smith,” said Settle.
Settle told 5NEWS the board approved tax incentives for other companies in the past.