Tax Incentive Will Support Upgrades to Brighton Park Steel Facility
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A property tax incentive approved by City Council today will enable a long-time Brighton Park steel producer to maintain its plant on the 4700 and 4800 blocks of South Kedzie Avenue.
Siegal Steel will use the Cook County Class 6(b) property tax incentive to help offset the cost of its $2.8 million investment in its facility, where it has manufactured metal components for lawnmowers, harvesting equipment and other products for more than 60 years and currently employs 49 people.
The incentive will reduce property taxes on the site by approximately $540,110 over the term of the 12-year incentive period.