The News Courier in Athens, Alabama

Local News

May 4, 2014

Athens company expects to add 17 jobs

— Yuke Ito is proud that the local company he leads — American Leakless of Athens — is going to expand, creating 17 jobs over the next three years.

Founded just four years ago on a 12-acre site off Roy Long Road, the company and its 63 employees make metal gaskets for Honda automobiles. But with an $11 million expansion in the works, the company will be branching out, producing transmission parts, he said.

To help American Leakless, which is the U.S. subsidiary of Nippon Leakless Corp., Athens City Council members agreed to forgive a total of $560,264 in property and sales/use taxes for bringing jobs to the area.  However, the company will be required to pay a total of $432,869 in sales taxes to local schools.

Tom Hill, executive director of the Limestone County Economic Development Association, asked for the abatement on the company’s behalf during Thursday’s rescheduled council  meeting. The council took the following action:

• Abated $340,078 in property tax over the next 10 years;

• Abated $220,186 in sales tax during the construction period;

• Required the company to pay $278,246 in property tax for schools over the next 10 years;

• Required the company to pay $154,623 in construction-related sales tax for schools during the construction period.

Hill said the young company has experienced strong growth, more than doubling the number of workers it had expected to hire within its first three to four years. He said American Leakless had expected to have only 30 workers at this point.

For more information about the company, call 256-206-9560, send email to info@americanleakless.com or go online to http://www.americanleakless.com/contactus.html.

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