From the Fort Wayne Journal-Gazette:
A company that processes vehicle registrations for Indiana, California and Nevada plans to invest $2.58 million to renovate an empty building and construct a new operations center near IPFW.
Intellectual Technology Inc. also plans to create 20 full-time and 10 part-time jobs, according to paperwork filed with Fort Wayne officials. The primarily computer programming and engineering jobs will pay $75,000 to $85,000 a year.
The Carlsbad, Calif.-based company – also known as ITI – is requesting tax breaks from Fort Wayne on the project, which includes $1.2 million in real estate improvements and $1.38 million in equipment-related investment.
If a 10-year tax phase-in is granted, the company could save an estimated $281,886, according to Adam Welch, who works for the city. The request will be introduced at Tuesday’s City Council meeting.
ITI, which reported 2012 sales of $13.4 million, now employs 43 in a local logistics and operations office at 4111 Engleton Drive.
Indiana’s Bureau of Motor Vehicles has a $2.8 million annual contract with the company, ITI officials disclosed in the tax abatement application.
The project calls for making a dilapidated 19,533-square-foot building usable by adding ceiling tile, paint, carpet, heating, air conditioning and various wiring. ITI also plans to build a 10,000-square-foot building on the same property.
The property at 2980 Coliseum Blvd. E. was for sale for five years before the bank foreclosed on the loan and sold it at a sheriff’s sale. Company officials contend the land should be considered an Economic Revitalization Area eligible for tax breaks.
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