UNION STOCKYARDS — A South Side refrigeration repair outfit will get a $347,000 tax break to keep its business in Chicago.
The City Council at its meeting on Wednesday OK'd the renewal of what's known as a Class 6 (b) tax incentive for DualTemp of Illinois, Inc.
According to the Cook County Assessor's Office, the goal of the real estate tax incentive is to "attract new industry, stimulate expansion and retention of existing industry and increase employment opportunities."
City officials say the move will "support the continued occupancy of the 20,000-square-foot" facility, located at 4301 S. Packers Ave.
The measure essentially renews the original tax break the company received in 1993. That incentive expired in 2011.
This time around, the tax break will last for 12 years. The city said the move will help the company add 11 jobs in that time.
According to its online company history, Dual Temp has its roots in the development of the city's Union Stockyards.
The business was founded under a different name in 1914 and "supplied nearly all Chicago-based meat packing plants with services and equipment essential to the installation and maintenance of the ammonia compressors."
Company president Steve Weinstein could not immediately be reached for comment.
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