News Sections
Audio
Bedford City Council Approves Tax Abatement For In-Fab
Updated February 12, 2015 6:49 AM | Filed under: Business
 Print    Archive    RSS

(BEDFORD) - The Bedford City Council approved a tax abatement for In-Fab.

The Times-Mail reports that the company is located at 2030 John Williams Boulevard and makes shipping containers and custom packs auto parts.

The company currently employs 20 people, but now with the tax abatement, 100 more employees will be hired to fill positions in the field of ironworkers, welders and technology.

According to the paperwork submitted by Gene McCracken, executive director of the Lawrence County Economic Growth Council, the company received a tax abatement for $389,000 in equipment and $30,000 in property improvements (by adding two rooms), making a total investment of $419,000.

McCracken says the abatement will be on a sliding scale. The company will receive a 100 percent tax break on its investment the first year, 90 percent the next, then 80, 70 and so on until the 10 years are up.

McCracken submitted a spreadsheet showing the company would save an estimated $5.568 the first year. For the 10-year span, the savings would total $25,916.



« Previous Article
Next Article »

 Print    Archive    RSS

Have a question or comment about a news story? Send it to comments@wbiw.com

Advertise with 1340 AM WBIW
Find more about Weather in Bedford, IN
Advertise with 1340 AM WBIW


1340 AM WBIW, Bedford's Place To Talk. Serving Lawrence and surrounding counties since 1948!

© 2018 Ad-Venture Media, Inc. All Rights Reserved.   WBIW.com and Listen Live Powered by HPC

Advertise  |  Careers  |  Contests  |  About  |  Feedback