MiTek closes here, gets tax break in St. Charles

by David Reed

October 19,2009

MiTek, which decided earlier this year to close its Columbia manufacturing plant and consolidate operations in the St. Louis area, has received a tax break to pay for an expansion of its plant in St. Charles.

MiTek had about 45 employees at its Columbia plant on E. Boone Industrial Drive, a stamping operation where they made metal truss plates for building construction.   

MiTek owns the building housing its stamping operations in St. Charles and leased the plant in Columbia from the Atkins family, and the company decided to consolidate operations in St. Charles because the market for its product shrank during the recession, according to Bernie Andrews, vice president of Regional Economic Development Inc.

Andrews said the company had not sought a tax break from Columbia or Boone County. MiTek's plant in Columbia had been "winding down" since June, he said.

 Last week, the St. Charles City Council approved the allocation of about $7 million in industrial revenue bonds for MiTek, a global company owned by Warren Buffett's conglomerate, Berkshire Hathaway, according to a St. Louis Post-Dispatch report. The company also will get abatements of for property and sales taxes, the newspaper reported.