Stuller Settings, one of the nation’s largest jewelry wholesaler, that employs more than 14-hundred people, will appear before the council Tuesday evening seeking a property tax exemption.
Stuller Incorporated is seeking an industrial tax exemption totaling 162,000 dollars over eight years from Lafayette Consolidated Government. That is tax the company would otherwise pay on its property and assets for its headquarters here in the Hub City.
Stuller’s application for the tax exemption says the company invested about three-point-three million dollars in operations and that expansion will retain six jobs for a payroll of 278,000 dollars.
In the company’s view, that investment should be rewarded with a tax break.
In year’s past Stuller would have gone before the Board of Industry and Commerce, an appointed board in Baton Rouge that more or less rubber-stamped such tax exemptions.
Two years ago governor John Bel Edwards signed an executive order giving local taxing authorities like consolidated government and the school board, the authority to decide whether to give up those taxes.
Supporters of the Industrial Tax Exemption say it promotes job growth but giving companies incentive to invest or expand.
Stuller isn’t the only company before the council Tuesday evening.
Advanced Products and Systems, a Scott manufacturing company, is also applying for 60,000 dollar tax exemption.