An insurance company that has already been promised $3.5 million in state tax credits to remain in Indiana may soon be getting a local tax break as well.
Carmel City Council members on Monday will consider a 10-year city property tax abatement for Baldwin & Lyons, which plans to move its corporate headquarters from downtown Indianapolis to an office complex at 116th and Pennsylvania, a block east of U.S. 31.
The 83-year-old insurance company says it plans to spend $20-$30 million to purchase and renovate
an office building at 111 Congressional Blvd. – adding 133 new jobs over the next five years.City officials say the abatement will not actually cost Carmel a thing. It’s only for the improvements on the property, not the existing assessed value which will still be paid and is not part of the abatement.
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http://www.indystar.com/apps/pbcs.dll/article?AID=2013303170080
