From the Louisville Courier-Journal:
The Jeffersonville City Council on Monday night approved tax abatements for the retention of an existing high-tech company that’s looking to expand in the North Port Business Centre and the location of a new home-improvement business off Veterans Parkway.
Amatrol, which was lauded by Gov. Mike Pence in his January State of the State address, is planning a $3.7 million project to accommodate its rapid growth. This includes $2.2 million to add 39,000 square feet to its existing 83,000 square-foot facility, $1.3 million in personal property investment and $210,000 in other investment by the end of this year.
“We’ve had significant growth in sales overseas and, more specifically, for green-energy products and mechatronics,” Paul Perkins, company president, said in a statement.
The company, which has 142 employees with an annual payroll of $7.8 million, plans to add about $1.4 million in annual payroll by hiring 30 new workers by the end of 2018, according to financial documents filed. The average starting wage of the new jobs is $22 an hour.
The city, in turn, gave the company a 10-year abatement on real estate improvements and a five-year abatement on personal property, as well as a pledge that it will match state economic development training money up to $2 million.
The development in Monday’s meeting is expected to be an $8 million project that has been in the works for the last several months.
Menards plans to build a home-improvement store in the Jeffersonville Town Center, off Veterans Parkway just east of Interstate 65 in Jeffersonville.
It has committed to hiring 100 new workers with annual salaries ranging between $10,000 and $100,000, according to economic development commitments signed by the company in August.
Construction is expected to start in July and take about a year to complete.
The city council approved a 10-year abatement for up to $9 million in qualifying real estate improvements made by Menards.
http://www.courier-journal.com/apps/pbcs.dll/article?AID=2014303040036
