Friday, March 15, 2013

Various News Outlets Report Economic Development News

From the Fort Wayne News-Sentinel:


A marketing agency building a new $3.4 million headquarters near the General Motors plant would save about $320,000 over 10 years if Allen County Council approves a tax “phase in” for the project March 21.
Britton Marketing & Design group previously announced it would move from its current location at 1415 W. Coliseum Blvd. into a new 20,000-square-foot facility in the Silverado industrial park off Lafayette Center Road. Vera Bradley, one of Britton's major clients, is already located there.
According to an application filed with the Allen County Department of Planning Services, Britton currently has seven full-time employees. The expansion will create an additional eight full-time jobs, nine temporary jobs and nine part-time jobs.
The company was founded in 2005. Construction is expected to begin next month, with completion scheduled for early next year.
Phase-ins, previously called abatements, temporarily reduce taxes owed on new buildings or equipment.

From the Kokomo Tribune:
The Pioneer seed company made it official Thursday that it was expanding its operations in Tipton and will create up to 20 new jobs.
The company in February was granted a 10-year tax abatement by the Tipton County Council for a proposed $13.8 million investment in the community to bring a new seed processing facility to the 1000 W. Jefferson St. facility. The company is expanding the Tipton site by 20,800 square feet.
The company has already been granted building permits by the Tipton County Plan Commission.
The Tipton location was selected over at least another Pioneer operation in another Midwestern state.
Pioneer is also investing $12.6 million to expand their Rushville facility by 18,720 square feet and creating up to 21 jobs.
“DuPont Pioneer has been a long-standing corporate citizen and one of Tipton’s most valued employers for many years,” Tipton Mayor Don Havens said. “The expansion of this agri-business is a most welcome economic development event for Tipton County.”
Both the Tipton and Rushville expansions are expected to be completed in October. It will allow the company to condition and process its Optimum “AcreMax” family corn seed products.
“We value the relationship we have with both of these communities, counties and the state of Indiana,” Brad Lance, business director of the DuPont Pioneer Heartland business unit, said in a press release. “DuPont Pioneer has operated in Indiana for more than 70 years and we plan to continue that legacy and strive to a be a good long term partner.”
The Indiana Economic Development Corp. is providing Pioneer up to a combined $265,000 in conditional tax credits and $45,000 in training grants based on job creation plans for both projects.
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From the Chesterton Tribune:
The Burns Harbor Town Council agreed on a tentative outline Wednesday of a tax-abatement agreement with Indiana Flame Services, an independent contractor that plans to upgrade and expand its operations at ArcelorMittal.

The council, with members Mike Perrine and Greg Miller absent, agreed to consider preliminary approval of the IFS abatement petition at the April 10 meeting and to conduct a public hearing and possible final vote May 8.

In 2012 after 11 months of discussion the council rejected Mittal’s application to extend its current tax abatement after initially giving preliminary approval.

Representing IFS Wednesday, local attorney Greg Babcock apologized for the absence of company director Eliot Weiner, who is in Australia on business; Weiner visited with the Town Council about the expansion project last summer.

Babcock said the company seeks abatement on new personal-property investment over five years of $300,000 annually tied to equipment for moving the IFS Research and Development Department from France to Burns Harbor, and on up to $2.1 million a year for equipment related to IFS slab-conditioning services for Mittal.

Dan Botich of town financial advisor Cender & Company confirmed state law allows the town to impose a fee of 10% or 15% on the IFS tax savings if the company agrees, the fee to be paid annually or upfront in a lump sum and typically to the town’s Redevelopment Commission.

Town attorney Bob Welsh said it could be a tight timeframe hammering out desired conditions by April, but councilmen Jeff Freeze, Gene Weibl and president Jim McGee offered some they’d like to see in the agreement. Freeze recommended a 10-year abatement and asking IFS for a 15% fee.
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