From the Fort Wayne News-Sentinel:
Allen County Council on Thursday is expected to consider more than $440,000 in incentives designed to create as many as 442 jobs, most of which were previously announced.
R3 Composite Corp., an Iowa-based plastics company that will operate in the former Meridian Automotive Systems plant in Grabill, would receive up to $332,332 over five years through the Local Economic Development Grants for a Growing Economy (LEDGE) program, if it creates 400 jobs as expected.
The money would come from the County Economic Development Income Tax, with Fort Wayne providing 75 percent of the grant and the county the remaining 25 percent.
The $36 million SDI LaFarga copper rod and wire plant, nearing completion east of New Haven, is slated to receive up to $102,695 in LEDGE grants from the county if it creates 35 jobs as expected. The plant is a joint venture between Fort Wayne-based Steel Dynamics Inc. and the Spain-based LaFarga Group.
Both projects previously received tax abatements from County Council, and the LEDGE grants were included in incentives packages offered to both firms, according to county Deputy Director of Economic Development Mark Royse.
Also Thursday, Council will consider an abatement for JCR Enterprises, which wants to invest $500,000 in its plant at 1426 Ryan Road, creating four to seven full-time jobs. The company designs, builds and services automated equipment and would save $10,325 in property taxes over five years and $4,688 in personal property taxes over three years.
http://www.news-sentinel.com/apps/pbcs.dll/article?AID=/20120813/NEWS/120819851/0/SEARCH
