Immobiltec USA is the property owner and Modula is the business that leases the plant on the 56.8-acre site.
They plan to develop and construct an approximately 180,000-square-foot expansion for manufacturing and warehouse space, which will cost an estimated $24 million to build, according to documents submitted to the city.
The company is requesting a Community Reinvestment Area property tax exemption for 15 years. The CRA would be a 100% tax abatement on the increased assessed value resulting from the construction project.
Modula currently has 117 full-time employees with an annual payroll of more than $7.4 million.
According to project documents, the expansion would create 60 new full-time jobs by 2028. Those would come in phases — 11 in 2026 with an additional annual payroll of $715,000; 20 in 2027, which would add more than $1.3 million in annual payroll; and 29 in 2028, which would add more than $1.8 million in annual payroll.
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