Saturday, February 15, 2014

News Reports Satellite Industries Offered Tax Credits for Investment in Bristol

From the Goshen News:

Plans by a global supplier of portable sanitation equipment to construct a new manufacturing and warehouse facility in Bristol took a big step forward Thursday following a meeting of the Elkhart County Plan Commission.

During Thursday’s meeting, commission members approved a request by Wagner Land Development Co. Inc. and Nuway Construction for a zone map change from a General Planned Unit Development-M-1 to a Detailed Planned Unit Development-M-1 to be known as Bristol Park For Industry Phase 2C & 2D DPUD.

As stated by county planning staff, the requested change is necessary in order for Satellite Industries Inc., which makes portable toilets, service trucks, restroom trailers and other sanitation products, to move forward with plans to build a 106,000-square-foot manufacturing facility on a 22-acre campus on the property, which is located just west of C.R. 29 near the Commerce Drive cul-de-sac in Bristol.

According to a recent announcement by the Indiana Economic Development Corporation, the Minneapolis-based company plans to invest $6.9 million over several years to establish distribution and manufacturing operations in Indiana.

That investment will reportedly take place in two phases, with the first phase consisting of leasing and equipping a 13,000 square-foot facility in Elkhart. That phase will then be followed by a second phase of expansion involving the construction and equipping of a new 106,000 square-foot manufacturing facility in Bristol at a cost of between $2 and $4 million.

As part of the planned move, the IEDC reportedly offered Satellite Industries up to $675,000 in conditional tax credits based on the company’s job creation plans. Such tax credits are performance-based, meaning until new workers are hired, the company is not eligible to claim incentives. The town of Bristol also reportedly approved an additional tax abatement for the company at the request of the Economic Development Corporation of Elkhart County.