AURORA (WBBM NEWSRADIO) -- A cabinetmaking company has decided to stay put and expand in the western suburbs instead of moving to North Carolina.
Magickwoods has been making bathroom and kitchen cabinets in Aurora since 1993. It has 90 employees, but had been considering moving to North Carolina to take advantage of lower taxes and to be closer to Lowe’s corporate headquarters. Magickwoods supplies Lowe’s and Home Depot.
Now, according to the Beacon-News, Magickwoods has been given state and local tax incentives to keep it in Aurora.
Under the agreement, Magickwoods will invest $23 million in expanding its 375,040-square-foot offices and factory by 100,000 square feet in a building across the street. It will add at least 50 employees, but the number of employees and square footage could expand further, company officials said.
According to the Beacon-News, the state offered the company a tax break that comes to $113,231 a year, or about $1.13 million for the next 10 years. Additionally, Aurora lowered the company’s taxes by about 7.1 percent, or about $120,000 a year.
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