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Published December 21, 2009, 10:30 PM

City Council OKs Tax Relief For AEES

The city council has granted a five-year property tax exemption for AE2S.

By: Joel Porter, WDAZ

A Grand Forks engineering firm will receive a five year break on property taxes for a new corporate headquarters.

Advanced Engineering and Environmental Services is building a new headquarters on a site near 42nd Street in Grand Forks.

Tonight, council members voted to give the firm a break on their property tax rate over the next five years.

They say the savings will allow the firm to hire additional employees and finish their expansion.

"this is a headquarters business, which means money is coming into Grand Forks from their activities, rather than going out," council member Eliot Glassheim said.

The firm's tax exemption will decrease at a step-down rate over the five years.

The city has just under three and a half years to grant further tax exemptions to new and expanding businesses as part of the stimulus plan.