Business growth tax breaks focus of Goshen council
Posted: 11/15/2011 at 1:15 am
By: Justin Leighty
The council already gave unanimous approval for Benteler Automotive to expand operations and add $32.2 million in new equipment through 2013. That tax break is up for final review tonight, a deal that would benefit Benteler by about $2 million over a decade if the automotive supplier expands here and adds 98 jobs.
The company signed a lease last month to move shipping operations to a vacant industrial building on the cityís south side, the former Nappanee Window building.
The owners of that building, Fred Ramser, Randy Huffman and Kelly Huffman, will ask the council tonight to grant them a $139,000 tax break on the property as part of a program suggested by Mayor Allan Kauffman to spur economic growth in vacant industrial buildings on the cityís south side.
Bentelerís plans are the first phase of a two-phase plan. Phase two calls for another $22.1 million investment that would bring an additional 80 jobs.
The other tax break council members will consider is giving final approval to a break that would see $5.1 million in new investment by a new joint venture between local automotive supplier GDC and one of its suppliers, Monadnock.
That joint venture would benefit by about $320,000 in tax savings if the council gives it the final OK. It would add 73 new jobs, according to GDCís Maury Miller.
In addition to the tax breaks, the council will consider several financial housekeeping matters. Most are routine and small, with the most significant being a series of transfers in the police budget to cover overtime and personnel expenses.