By Tim SchmidtRecord Managing EditorAn 11-year tax abatement plan has been finalized for EPC, Inc., a company that will open a processing center in Wright City next year.EPC will pay 40 percent of its real estate taxes over the next 11 years as part of the incentive package agreed upon with the city. The company will pay 100 percent of personal property taxes during that same period.The new facility will generate $75,577.68 annually in new tax revenue to be distributed to the affected taxing districts, with the figuring jumping to $166,487.42 once the abatement period is over.EPC will construct an approximate 104,000-square-foot facility at the southeast corner of South Stringtown Road and Veterans Memorial, adjacent to the Gateway Industrial Centre. The property will be the new site of its “e-scrap processing center.”Construction on the new facility is expected to be complete in mid-2016. EPC intends to initially employ 70 people at the Wright City location, with plans to hire an additional 20 employees over the next three years.The overall net impact of the abatement, in conjunction with the redevelopment of the property, is expected to provide around $831,354.49 more in real estate taxes.The yearly real estate tax revenue with the abatement is estimated at $75,637.88. Once the abatement period expires, the annual real estate tax revenue generated from the property is estimated at $166,547.62.Over the 11-year abatement period, the real estate tax revenue collected from the property is projected to be $832,016.70, according to a tax impact analysis. Without the redevelopment project, the real estate tax revenue is estimated to be $662.21 over the next 11 years.Wright City aldermen unanimously approved an ordinance related to the tax abatement at last Thursday’s meeting. A public hearing was held near the start of the meeting with no comments made.City leaders and representatives of the Greater Warren County Economic Development Council worked with company officials to land the new development over other locations that were considered.“Anytime you have a company like this, an innovative company, it leads to people looking and doing business here,” Economic Development Director Karen Girondo said. “It will help with jobs, tax dollars; I think it will spur more growth.We’re fortunate they picked us.”Mayor David Heiliger added: “This is going to be good for this town. They seem like they are community minded. They are already wanting to help. They seem like very generous people.”All of the taxing districts affected by the abatement will receive a considerable amount of more money compared to if the property remained vacant.The Wright City R-II School District, which receives the most money from real estate taxes compared to other entities involved, is expected to collect an estimated $476,970.78 in tax revenue during the abatement period, or an annual average of $43,360.98. Without the company, the property would have generated $34.51 annually, or $379.61 over the 11-year abatement period in taxes for the school district.Once the abatement period is over and EPC is paying 100 percent of its real estate taxes, the R-II district’s yearly tax revenue is expected to increase to $95,476.86.Other taxing districts affected by the abatement are the state, county, city, county road and bridge, Scenic Regional Library, Wright City Fire Protection District, Warren County Ambulance District and Warren County Disability Board.“We have had full support” from the taxing districts, Girondo said.Headquartered in St. Charles with several locations throughout the United States, EPC is considered one of the largest professional recycler and IT asset management firms in the nation. The company provides IT asset recovery, computer recycling, data destruction and hard drive shredding services to businesses in the United States and Canada. EPC also sells computers, notebooks, and more to wholesale and retail customers.EPC, Inc.