Council approves tax break

Local News

Discussion

March 3, 2009

<b>Cass County By Products gets 5-year abatement on $1.9 million investment</b>

by Kevin Smith Pharos-Tribune Tue Mar 03, 2009, 10:45 AM EST

The Logansport City Council has approved a tax abatement for a $1.9 million investment in new equipment by Cass County By Products.

The company will buy new refrigeration, plate freezing and cold storage space for its facility in the airport industrial park.

The $30,515 abatement will run through 2014. The first year will be tax free, and each subsequent year the business will pay a rising percentage of the taxes, rising to 100 percent after five years.

The application approved at Monday’s council meeting indicates that the investment will create four new jobs while retaining the company’s 54 current employees.

As part of the agreement, Cass County By Products must keep salaries above $1.6 million throughout the duration of the abatement.

Mayor Mike Fincher spoke in favor of the abatement process as a way of creating and retaining jobs.

“Tax abatement is really a wrong use of the term,” Fincher said. “It is more like tax phasing. Several years ago, we changed the law so companies have to maintain certain wages. If they don’t maintain a certain wage level, the council can take the abatement away.”

Fincher added that the abatement was only for the equipment included in the agreement.

“It doesn’t abate the other taxes that they pay,” he said.

The Logansport-Cass County Economic Development Foundation facilitates the tax abatement process for the city. Information on the abatement process, including the number of jobs created and salary increase required to be eligible, is available on the foundation’s Web site at www.ledf.com.

President Skip Kuker says abatements are a way of encouraging businesses to locate in Logansport and Cass County.

“It is a useful tool that is used throughout the state and in many other states as well,” Kuker said.

Kuker believes that given the longevity of a building and equipment, a short-term tax abatement is a worthwhile investment for the city.

“A building may last for 100 years so they will be paying taxes eventually,” he said. “They also cannot get a second abatement on the same piece of equipment or property.”

Fincher agrees.

“If they didn’t get that piece of equipment, they may have to lay people off,” Fincher said. “It is important that people understand that it is keeping people working.”

Kevin Smith can be contacted at (574) 732-5148 or via e-mail at kevin.smith@pharostribune.com

Text Only | Photo Reprints

Local News

Principal: Lewis Cass student attacked with piece of wood
A Lewis Cass Junior-Senior High School freshman remained hospitalized Friday after being attacked by a classmate with a piece of wood, the school’s principal said.

February 10, 2012
Dancing with dad: 185 fathers and daughters take to dance floor
Robert Kesling remembers eight years ago when he swooped his daughter Anna off her feet and swayed on the dance floor with the young lady that makes his heart melt.

February 10, 2012 3 Photos
Woman suing Cass Area Transit
A woman is suing Cass Area Transit and one of its employees for “erratic” driving she says left her with a broken arm.

February 10, 2012
Delays in cases of clerk-treasurer, man accused of attempted murder
The defendants in two notable court cases had hearings Thursday, but issues in both required them to be pushed back two months.

February 10, 2012
Former police chief to run for coroner
Former Logansport Police Chief Randy Rozzi filed to run for Cass County coroner Thursday as a Democrat.

February 10, 2012
Daddy/Daughter Valentine Dance
February 9, 2012
Victory worth celebrating: United Way raises more than $600,000 for area organizations
Joe Johnson stood at the front of the room where a “small army” of community leaders had just been recognized for their work in raising more than $600,000 for United Way of Cass County. “Woah,” said the incoming campaign chairman. “This is scary.”

February 9, 2012 1 Photo
Accused rapist charged with felony in Arizona
A Logansport man out on bail on multiple sex-related charges was arrested last week in Arizona after police say he tried to attack his dad with a pair of kitchen knives.

February 9, 2012
Jurors: Galveston man not guilty of molest
A jury took only an hour Wednesday to decide that a Galveston man was not guilty of molesting a 9-year-old girl a decade ago.

February 9, 2012
Sen. Head to run for re-election
State Sen. Randy Head announced Wednesday he will seek re-election.

February 9, 2012
More Local News Headlines

Local News

Search Results

Discussion

Council approves tax break

<b>Cass County By Products gets 5-year abatement on $1.9 million investment</b>

The Indiana Senate last week approved a bill that would allow public schools to teach creationism in science classes as long as they included origin of life theories from other religions. Would you support such a measure?

Site Map

Contact Us