From the Lafayette Journal & Courier:
Three businesses will have to explain why they haven’t added all the jobs they promised when they received tax abatements from the city of Lafayette.
The city council is evaluating whether 37 tax breaks awarded to 16 employers are in compliance with their commitments.
During a caucus meeting Wednesday night, councilmen Ron Campbell and Steve Meyer asked for more information about those that have not hired the number of employees pledged.
“I want to look back at their past abatement compliance history, even if the abatement has expired,” Meyer said.
The three companies, Castle Coch, which built the Warehouse of Lafayette; McKinney Corp.; and Rea Magnet Wire Co., have made good faith efforts, said Dennis Carson, economic development director.
“The commitments were made at a certain point in time and things have changed,” Carson said. “You have companies like SIA that can’t build them fast enough, and some companies aren’t getting orders to build anything.”
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The tax breaks are designed to entice businesses to make investments in land, buildings or equipment, and to create jobs.
The council will vote on the compliance issue during its Monday meeting at 7 p.m. in City Hall at 20 N. Sixth St.
http://www.jconline.com/apps/pbcs.dll/article?AID=2013305300027
