ANGOLA â Two growing Angola companies received tax abatement approvals during Mondayâs meeting of the Angola Common Council.
The tax abatements approved for Vestil Manufacturing and Feddema Industries will result in 22 new jobs between the two, 20 at Vestil and 2 at Feddema.
Vestil Manufacturing, one of Angolaâs oldest manufacturing facilities, plans to add nearly $1.8 million in new manufacturing equipment, research and development equipment and logistics distribution equipment that will add 20 jobs at an average salary of about $39,000. The expansion will also retain 433 employees.
Vestilâs project began in March and expected to be completed by August.
The tax abatements were for five years on personal property â the equipment â and 10 years on the real estate improvements.