by Susan Beagle

At the May 6, 2008 Middletown City Council meeting, Ordinance No 02008-40 was presented, a modification of the enterprise zone agreement with Quaker Chemical. 

The request is for 75% tax abatement over 10 years for improvements to the Yankee Road location of Quaker Chemical. 

Quaker Company plans to add a $20 million 18,000 sq. ft. facility to their existing location.  This improvement will bring 40 new jobs and $1.9 million in payroll to the Middletown area. 

Revenues will be shared with Middletown City Schools.  The value of the tax abatement incentive is estimated at about $406K and the project will generate revenues in property and income tax to Middletown at about $443K over 10 years.  Quaker Chemical is a leading provider of specialty chemicals to the steel industry.

Related: Quaker Chemical to invest $19.8 Million in Middletown Facility