HANCEVILLE — An expanding Hanceville business is expecting to soon bring 30 new local jobs and more than $900,000 in new annual wages to the Cullman area.

The Hanceville City Council approved a $149,000 tax abatement for Birmingham Fastener at its regular meeting Thursday, awarding the company a tax break for an expected $2.15 million capital investment that will expand its existing distribution facility on the city’s south side.

The company, which was founded by the late Howard Tinney, a Hanceville-area native, has operated in the city since the early 2000s, and produces heavy-duty fasteners for structural steel fabrication, metal buildings, transportation, utilities, OEM manufacturers, agricultural manufacturers, and more from production facilities in Alabama, Texas, and Florida.

“We just appreciate the Tinney family for bringing Birmingham Fastener to Hanceville in the first place, and for their continued commitment,” said Hanceville mayor Kenneth Nail. “They were hometown folks from the beginning, and I’m just glad that they’re still investing in us.”

In its petition requesting the abatement, Birmingham Fastener explained that its local expansion will increase the Hanceville distribution facility’s shipment capacity. The abatement, which will be applied over 10 years, does not waive taxes applied to local education, and is expected to leave in place approximately $80,000 in local education taxes that will still be collected over the same 10-year period.

An economic impact assessment for the project predicts that the new jobs created by the expansion should yield an estimated $277,000 in new annual business revenues and $23,816 in additional tax revenues locally.

Begun in 1980, Birmingham Fastener opened its 150,000 square-foot distribution facility in Hanceville in 2002. In 2013, Howard Tinney’s son, Brad, succeeded his late father as the company’s president and CEO.