Council OKs incentives for companies

June 19--Logansport leaders approved continuing tax breaks for several companies Monday along with a new abatement for a company and a cash incentive for another.

City council voted 5-0 in favor of a resolution continuing tax abatements for seven local businesses that remain in compliance for their breaks. Compliance factors include accomplishing the objectives the abatements are for -- like getting new equipment or developing new real estate -- and retaining an agreed-upon amount of employees.

The breaks for companies approved Monday were:

--ABC Metals Inc., personal property and real estate

--A Raymond Tinnerman Automotive Inc., personal property

--Logansport Machine Co., two personal property

--Materials Processing Inc., two personal property

--Myers Spring Co. Inc., three personal property

--Tube Fabrication LLC, real estate

--Tyson Foods Inc., real estate

Council members Amy Densborn, Larry Hood, Dave Morris, Scott Peattie and Teresa Popejoy voted in favor. Matt Meagher was not present and Terry Doran arrived later in the meeting.

The council also approved 5-0 two resolutions for tax abatements for BHJ USA Inc., which operates a pet food manufacturing plant in the Cass-Logansport Industrial Park on Ind. 29 south of town. One abatement is for real estate and the other is for personal property.

BHJ USA is planning a $15 million investment to expand its Logansport plant by 50,000 square feet. The real estate abatement will last 10 years, descending from a full break to 5 percent in its final year. Its personal property abatement is five years, starting with a complete break before dropping to 20 percent in its final year.

The council went on to approve 6-0 an ordinance on first reading appropriating $120,000 to Steinberger Construction Inc. on the condition that its ownership group take on the company's property at 400 Water St. Doran had joined the meeting in time for the vote.

Cass-Logansport Economic Development Organization President Bill Cuppy told council members last week that the appropriation would be an effective incentive for the new ownership group, as the council cannot award an abatement for property already on tax rolls.

Several of the companies awarded incentives Monday are in the city's Ward 2, which Hood represents.

"I'm all for supporting local businesses," Hood said after the meeting. "...We need to keep all the businesses in town we can."

He added he supports local businesses because they in turn support the community by providing employment.

In other news, the council also heard from Cuppy, who said plans are being finalized for the development of the former Marsh Supermarket at 824 N. Third St. and the adjacent former Hook's Drug Store at 10 E. Miami Ave.

"We'll have two new businesses there," Cuppy said.

He went on to say he intends to seek the Logansport Redevelopment Commission's help with improving that area with new parking lots, sidewalks and lighting.

Online property records indicate that Prithpal Gothra bought both properties for $381,500 each on April 10, 2018.The owner of both properties is listed as Lafayette-based Quick Shop Inc.

Reach Mitchell Kirk at [email protected] or 574-732-5130.

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