Plainfield Board OKs Tax Abatement for Coilplus Expansion

Village trustees on Monday approved a site plan review and variance for a 76,000-square-foot addition at Coilplus of Illinois at 14023 S. Coilplus Drive at Route 30 just north of 143rd Street.

Board members also gave a collective nod to a 50 percent property tax abatement for the addition over the next five years, mirroring action taken by the Plainfield School District 202 Board of Education last week.

Village Administrator Brian Murphy said the tax abatement is the “icing on the cake” that will keep the company’s expansion in Plainfield, rather than at one of 11 other Coilplus locations in the U.S.  

“This was a very competitive process within their organization,” Murphy said.

According to a report from Village Planner Michael Garrigan, Coilplus currently generates $11,613.19 per year in taxes to the Village of Plainfield. With the expansion, Plainfield would receive about $18,913 per year.

But since the five-year, 50-percent abatement will be granted on the addition only, even with the tax break, the expansion will still translate to an additional $3,649.81 more per year than the company is currently generating.

Coilplus is planning to spend approximately $4.8 million for the building expansion and could potentially invest an additional $6 million in new equipment at the facility, Garrigan wrote in his report. The company’s Plainfield facility currently employs 60 and plans to hire up to 16 additional employees to meet its growing needs.

Trustee Bill Lamb said he recently toured Coilplus Plainfield and was impressed by the company’s success, cleanliness and the superb quality of its products.

“They are excellent citizens,” Lamb said. “We are delighted to have them here.”