LOGANSPORT —
Logansport City Council members informally agreed Monday to grant delayed approval to $1.5 million in tax abatement for Myers Spring.
Jeremy Ashcraft, chairman of the council’s planning and economic development committee, opened the discussion by acknowledging that the matter likely should have come before the council months earlier.
“I’m not sure what happened,” he said. “I know we talked about it, but I guess we never actually took action.”
Officials indicated part of the problem might have been a transition in leadership at the Logansport-Cass County Economic Development Foundation.
Connie Neininger, LEDF’s new president, noted that the application had been dated in March. She indicated that the council could waive a requirement that the application be acted upon in advance of the purchase.
Todd Miller, the company’s president and chief executive officer, took partial blame for the oversight.
“I should have been keeping track of it,” he said. “Honestly, I thought it had already been approved.”
Neininger said LEDF supported the abatement.
“I think that they have shown that they want to be part of this community and provide jobs here,” she said.
The application called for the equipment to be installed during the final six months of this year and for the company to add three jobs or about $100,000 in payroll.
Miller said the equipment was already up and running and that the boost in employment had exceeded projections.
“We’re up 40 percent from our previous record for November,” he said. “Business is really booming.”
Much of the new work, Miller said, has been coming in the agriculture sector, mostly from John Deere.
“We’re doing well because our customers are doing well,” he said.
Miller said the company’s automotive work was also increasing.
“Honda has been fantastic,” he said. “It takes a long time to earn their trust, but when you do, they’re a very good customer. They keep business coming your way.”
The five council members at Monday’s meeting seemed unanimous in their support for the application. All seemed pleased by Miller’s upbeat report.
“That’s what we want to see, is growth,” said councilman Joe Buck.
Miller said the company took pride in its conservative business approach.
“We’ve never had a layoff since 1946,” he said. “We’re real careful about hiring, but we’re hiring now.”
The proposal before council calls for a 5-year abatement on an investment of $1.5 million. The abatement would save the company nearly $44,000 in personal property taxes, much of it in the first two years.
As part of the application, the company agrees that it will not seek abatement for any year in which its payroll falls below $1.06 million, or 80 percent of its current level. At the time of the application, the company’s payroll stood at just under $1.33 million.
Kelly Hawes is managing editor of the Pharos-Tribune. He can be reached at 574-732-5155 or kelly.hawes@pharostribune.com.
Local News
Council committee favors tax abatement for Myers Spring
Proposal would save the company $44K in taxes on $1.5 million investment.
- Local News
-
-
Delphi’s Bowen House added to list of endangered properties
A historic Victorian mansion in Delphi, once the home of a successful merchant and a professional wrestler, has been added to an Indiana preservation organization’s list of endangered landmarks.
-
City, engineers assessing Sixth Street buildings
The Logansport building commissioner is working with an engineering firm to establish the future of three connected buildings on North Sixth Street after part of one of them had to be demolished last month.
-
State called leader, laggard in new economic report card
A newly released report card on where Indiana ranks nationally in key economic measures shows the state is both “a leader and a laggard” in areas that signal potential for more prosperity.
-
LHS students turn in laptops at year's end
After a year of 1,250 laptops carried in student backpacks, in classrooms and to homes, Logansport High School is reporting a good turn-in rate and a great year of academic achievements.
-
Company invests $1.1 million in Miami Co.
A Logansport-based company is investing $1.1 million to expand its operations into a facility north of Peru. The company said it will bring more than 30 jobs to the county.
-
Career center gets $15K grant
Students at the Century Career Center will be able to print out 3D models of their drawings next fall due to a $15,000 state grant.
-
Boost in education funding won’t benefit all schools
In the budget bill passed by the General Assembly last month, there is more money allocated for K-12 education over the next two years, but that doesn’t mean every school will get more dollars.
-
Playing with food
Two foods classes at Lewis Cass Junior-Senior High School got crafty with their food last week following family and consumer science teacher Courtney Nethercutt’s lead.
-
Unclaimed property amounts to millions in Indiana
There are millions of dollars in Indiana, the rightful owners of which cannot be located. A program through the Indiana Attorney General’s office is trying to get that property into the right hands.
-
Fulton Community Center completed
Almost a decade in the making, the Fulton Community Center is up and running.
- More Local News Headlines
-
Raw: Trucker Bumps I-5 Bridge Before Collapse
Raw: Texas Deputy Shot by Colo. Suspect Honored
Major Detours Following Wash. Bridge Collapse
American Held in Grisly Czech Murders
Raw: Jersey Shore Reopens for Summer
UK-bound Pakistan Plane Diverted, 2 Men Arrested
Officials: Tsarnaev Friend Linked to Slaying
Obama:Sexual Assault Threatens Trust in Military
Bridge Collapse Survivor: 'Rough Day'
Jersey Shore Open for Business
Raw: Memorial Day Flags Placed at Arlington
New Wheelchair Lift Promises More Access
First Person: Mom Discusses Famous Tornado Photo
Raw Video: Washington State Bridge Collapse
Boy Scouts Approve Plan to Accept Gay Boys
