From the Indianapolis Business Journal:
ConAgra Packaged Foods LLC is seeking city tax incentives as part of a $44 million plan to upgrade its manufacturing and packaging plant on the northwest side of Indianapolis.
Department of Metropolitan Development staff said Friday morning that the proposed tax abatement is needed to make ConAgra’s modernization project economically feasible, allowing it to retain 392 workers in Indianapolis who make an average hourly wage of $22.11.
...
DMD staff is recommending a 10-year tax abatement that will save ConAgra an estimated $1.9 million. The company will pay an estimated $1.3 million in personal property taxes on the new equipment during the 10-year abatement period and about $283,000 in taxes annually on the equipment after the abatement period.
“Without this project, it is likely that the 62nd Street facility would close,” DMD staff wrote in recommending the abatement.
The Metropolitan Development Commission is scheduled to vote on the incentives May 16.
http://www.ibj.com/local-margarine-plant-plans--44-million-upgrade/PARAMS/article/34381
