The City Council grant a 50% tax abatement to Rimrock IV, LLC, d/b/a KIA of Billings in support of their $5.0 million investment to expand their facility at 4040 King Avenue West within the City.

Rimrock IV, LLC, d/b/a KIA of Billings applied for a tax abatement in August 2022 and has been in business in Billings, Montana for 10 years.  The business specializes in automotive sales and service of new and used vehicles and includes parts sales.  The company plans to remodel and expand their KIA dealership by investing $5,000,000 in new construction at 4040 King Avenue West.  The existing building is currently valued at $4.5 million.  This project is located within Billings City limits and will go before Billings City Council and Yellowstone County Commissioners for consideration.

The business currently has 36 full time employees and intends to expand their workforce to 60 full time employees within two years, by December 2025.  The new jobs will be sales associates, automotive technicians, sales manager, administration, and parts representatives.  See the enclosed summary of the tax abatement application from BSED and Rimrock Kia's application.

City Resolution 05-18377 allows the City Council to grant a 50% tax abatement. The attached application requests the city and county consider approving a tax abatement for KIA’s building improvements.

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City Council may:

• Approve the tax abatement for the amount requests, or
• Approve a tax abatement for amount other than requested, or
• Not approve the tax abatement.