From the Lafayette Journal Courier:
A group of tax abatement requests passed with flying colors during Monday night's Lafayette City Council meeting.
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Rea Magnet Wire asked for a seven-year tax abatement on $7.5 million worth of new equipment to replace aging machines. The abatement includes equipment for a new process for copper refining, adding nine jobs.
Alcoa's request was a 10-year property tax abatement on real estate and new equipment. The requests are part of Alcoa's $93 million investment to construct an aluminum lithium casting plant on its property along Teal Road near Sagamore Parkway. Alcoa's new line will create 75 jobs.
Heartland Automotive requested a 10-year abatement to build a $8.4 million, 126,000 square-foot manufacturing facility at Park 350, the industrial park at Veterans Memorial Parkway and U.S. 52. Heartland Automotive would then move out of its leased 71,000 square-foot plant at 1520 Kepner Drive.
With its abatement, Wabash National plans to begin production on a vacuum tank trailer later this year. The new line will require a $750,000 investment in equipment and will produce 60 or more new jobs.
Each request was unanimously approved by the city council.
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http://www.jconline.com/apps/pbcs.dll/article?AID=2012204030318
