FINANCIAL_SERVICESAMENDED

City of Wooster City Council Agenda Packet May 18 2026

COMPAK Inc. Included in 2018 EZ Incentive Deal

Tax exemption of 75% of real estate taxes on improvements, 10‑year term tied to $1,200,000–$3,500,000 project investmentTown of WoosterCOMPAK INCMay 16, 2026

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Description

Wooster’s 2018 Enterprise Zone Agreement included COMPAK Inc. as a co‑Enterprise, granting a 10‑year, 75% property tax exemption in exchange for new job creation and retention at the 1909 Old Mansfield Road facility. Subsequent amendments and assignments have largely transitioned COMPAK Inc.’s role to COMPAK LLC while preserving the incentive framework.

Contract Details

Contract Amount

Tax exemption of 75% of real estate taxes on improvements, 10‑year term tied to $1,200,000–$3,500,000 project investment

Vendor

COMPAK INC

Agency

Town of Wooster, OH

Contract Type

FINANCIAL_SERVICES

Document Date

May 16, 2026

Contract Term

10 years, commencing with first taxable year for improvements (tax year 2019 through December 31, 2028) with operations obligation through December 31, 2038

Renewal Date

2028-12-31

Renewal Info

The EZ incentive term is fixed through December 31, 2028 with operations obligations through 2038; later amendments modify the identity of the Enterprise and tenant structure without extending the abatement term. COMPAK Inc.’s ongoing role diminishes as obligations and benefits are assumed by COMPAK LLC and Triple J 1909 LLC.