City of Madison Enters into Economic Development Agreement with SuperATV, LLC
On April 5, 2022, the City of Madison Redevelopment Commission announced the creation of a new TIF allocation area and entered into an economic development agreement with SuperATV, LLC in support of their $60 million investment.
SuperATV, LLC, announced the company’s expansion in October of 2021. The expansion is estimated to create 315 new jobs generating $17 million in annual payroll income and approximately $153,000 in local income tax. Since the announcement, SuperATV has worked closely with city officials and the Redevelopment Commission to enter into an agreement creating the allocation area, which will generate $1.5 million for the city to reinvest in the community over the next ten years.
“This financial commitment is truly transformational for our city as we work towards growing Madison and our workforce. The city is grateful to SuperATV for their investment and for working with the Redevelopment Commission and the city to create high-paying jobs in our vibrant community. We are excited to see this growth in Madison and look forward to the great things to come,” said Mayor Bob Courtney.
The project will be completed in two phases. Phase one will include a 125,000 square foot expansion of the existing facility for production, logistics, and warehousing, and is projected to be completed in 2023.
“SuperATV is proud to call Madison home. We are thankful to the Redevelopment Commission and the City of Madison for their continued support, which has allowed us to grow and give back to the community,” said SuperATV President Lindsay Hunt.