A California-based drill
making business is expanding to Shelbyville.
The Shelbyville Common Council approved in a 7-0 vote at Monday's meeting a tax abatement on $420,500 worth of equipment for Drilling World, which is in the process of moving into the former Stanley Black & Decker building at 860 Elston Drive.
The company was founded in 1985 and has operations in North and South America and Europe.
Shelbyville's location will be the third location that builds tools for shale oil extraction, and will be a Midwest hub for those tools, said Stephen Huddleston, the attorney who represented the company at Monday's council meeting. ...
The Shelbyville Common Council approved in a 7-0 vote at Monday's meeting a tax abatement on $420,500 worth of equipment for Drilling World, which is in the process of moving into the former Stanley Black & Decker building at 860 Elston Drive.
The company was founded in 1985 and has operations in North and South America and Europe.
Shelbyville's location will be the third location that builds tools for shale oil extraction, and will be a Midwest hub for those tools, said Stephen Huddleston, the attorney who represented the company at Monday's council meeting. ...
The council also voted
unanimously to change the rules for the rainy day fund. The council passed a
resolution to eliminate a date by which the rainy day funds must be
transferred.
"From what I understand, the only change is that the ordinance hinders us from making changes after March 1, and there's no state law," council member Jason Brown said.…
"From what I understand, the only change is that the ordinance hinders us from making changes after March 1, and there's no state law," council member Jason Brown said.…
The resolution is a step in shoring up the budget, which will likely require moving funds from the utility fund and possibly Parks and Recreation Department and putting it into the rainy day fund. Then those funds can be moved into the general fund.
The Shelbyville Fire Department asked to move some money around in its department to pay for new tires. The department asked to move about $1,300 from the equipment fund to the tires and tubes fund. The council voted 7-0 to accept the request.
The fire department didn't ask for any new money from the council, but, like other city departments, is faced with a tight budget.
"We're probably going to be needing more money here coming up," Fire Chief Tony Logan said.
http://www.shelbynews.com/articles/2012/03/21/news/doc4f68d11008f73821936467.txt
