News: USA - City Council votes in favor of tax abatement for remanufacturing business
The Terre Haute City Council (Indiana) has voted in favour of a 10-year tax abatement for remanufacturing equipment at GE Engine Services-Tri-Remanufacturing in Terre Haute.
Tuesday, 23rd December 2008
The personal property abatement is on a $500,000 piece of equipment used to repair aircraft parts, according to the company's petition for the abatement. Tri-Remanufacturing employs 98 people in Terre Haute with a payroll of nearly $4.5 million. The equipment covered by the abatement will create five new full-time jobs paying more than $14 per hour, according Lou Britton, an attorney representing the company before the council Monday evening in City Hall. "Facilities of this kind, where [a company has] more than one plant across the country, either the company keeps investing in them and they grow, or they die," Britton told the council. "If they die, you don't just lose five jobs we're not going to get if we don't do this project, you lose the [existing] jobs [at the facility] we have now," he said.