Five biotech and technology companies could see their Marion County tax breaks reduced or cancelled if the Metropolitan Development Commission decides they didn’t fulfill promises on new investment and hiring.
The commission will review and hold hearings over the next month on agreements with AIT Labs, Interactive Intelligence Inc., BCForward, T2 Systems Inc. and EnerDel.
For now, all five have been designated as out of compliance, a move that preserves the city's right to cancel the benefits or claw back revenue, said Ryan Hunt, senior project manager in the Department of Metropolitan Development.
For now, all five have been designated as out of compliance, a move that preserves the city's right to cancel the benefits or claw back revenue, said Ryan Hunt, senior project manager in the Department of Metropolitan Development.
Several executives said they’ll argue that they should remain eligible for reduced personal-property and real estate tax bills.
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