At the regular meeting of the Decatur County Council Tuesday morning, Delta Faucet announced that it would be adding 160 jobs to the company’s Greensburg facility by the end of 2014.
The company falls under the purview of the County Council as opposed to the City counterpart because it sits just outside the city line.
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On Tuesday morning, the County Council approved a five-year tax abatement on both those amounts.
According to Coplon, the abatements for both the equipment and the building upgrades are structured to work in the same way, with each being “graduated.”
In the first year, Coplon explained, Delta Faucet will not pay any taxes on the $11 million worth of equipment or on the $1.5 million in building upgrades. In the second year, the company will pay 20 percent of the taxes it would otherwise pay on the items; in the third year, the amount will increase to 40 percent and then to 60 percent. In the final year, the tax rate on the two items will be 80 percent, with every year thereafter reverting back to normal tax rates.
In addition to the tax abatements, Coplon added, “The Indiana Economic Development Corporation (IEDC) has offered Masco (Delta’s corporate owner)/Delta Faucet up to $150,000 in training assistance from the state’s Skills Enhancement Fund and up to $1,100,000 in tax credit incentives over a 10-year period (2013-2022) from the ‘Economic Development for a Growing Economy’ program (EDGE).
- See more at: http://greensburgdailynews.com/local/x2040127440/Delta-to-add-160-jobs-locally#sthash.XqzaILVY.dpuf
