Thursday, October 11, 2012

Ten Year Abatement Lures Volkswagen Dealership to Highland

From the Northwest Indiana Times:


The Town Council has approved a 10-year tax abatement, opening the door for Volkswagen of Highland to come to town.
It is also relieved that the site, 9545-53-9601 Indianapolis Blvd., will not sit unused after a Toyota dealer makes its move to Schererville.
"That is 450 feet along Indianapolis Boulevard that we do not want to have vacant," Redevelopment Director Cecile Petro said.
The dealership would pay about $257,000 in tax abatement over the 10 years, which would save it about $127,334.
The new business hopes to break ground on building renovations before the cold weather arrives, dealership President Joseph Hoobyar said.
He added that renovations should be complete by spring.
Hoobyar said the dealership wants to be part of the community and last month said $20,802 will be donated to Highland's economic development fund.