From the Fort Wayne Journal-Gazette:
American Mitsuba Corporation will be announcing a major investment in Allen County. The company's proposed investment totals $8.3 million, which includes new equipment and a warehouse expansion. This investment will allow the company to add 25 new core associate positions. The company's operation is located at 21600 Monroeville Road in Monroeville, Indiana.
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The company is eligible for a ten year property tax abatement. The Monroeville Town Council will consider phasing in both real and personal property taxes associated with the project. American Mitsuba could save approximately $573,800 while still paying over $495,000 in local property tax over ten years.
The company would continue to pay taxes currently imposed on prior investments plus the phase-in of taxes on the new investment. The State of Indiana has provided support for the company's training efforts and investment through the Indiana Economic Development Corporation which was critical to the decision made to place these investments in Monroeville rather than at the company's other North American facilities.
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http://www.journalgazette.net/article/20120523/BLOGS01/120529821/0/SEARCH
