A local manufacturing operation will continue to grow following a property tax abatement.
Officials said Magna Powertrain, which now employs 290 people in two Cowan Road facilities, will add up to 76 jobs by 2016 thanks to a five-year partial property tax abatement on $11.5 million in new equipment approved Tuesday by Delaware County Council.
The Michigan-based company, which makes automotive
components and has operated locally since 2005, will hire machine operators, manufacturing engineers, quality engineers and other employees, said Terry Murphy of the Muncie-Delaware County Economic Development Alliance.
components and has operated locally since 2005, will hire machine operators, manufacturing engineers, quality engineers and other employees, said Terry Murphy of the Muncie-Delaware County Economic Development Alliance.
Murphy said Magna has invested $125 million in capital improvements in its local history.
...
In addition to Tuesday’s abatement, the Indiana Economic Development Corporation has offered Magna up to $400,000 in tax creits and up to $75,000 in training grants. The tax credits are performance based and contingent on hiring.
