LAFAYETTE, Ind. (WLFI) – Subaru of Indiana Automotive may be getting a tax abatement for more than $350 million in equipment.
The Lafayette City Council will vote on the abatement at its meeting on Monday. SIA is asking the city for a 10-year tax abatement for $354 million of equipment. The company is also asking for a 10-year tax abatement for $68 million in real estate improvements. SIA representatives said this would create 50 new jobs and retain nearly 3,000 jobs.
City Council President Steve Meyer said there will be a memorandum of understanding.
“If they move the new equipment, that’s part of this abatement. If they move this outside the area, they will be required to pay back any of the tax abatement savings that they received through the period that they had the abatement,” said Meyer.
The council will also have a first vote on a proposal for a new Harley Davidson dealership. The site is just south of South Street near I-65, adjacent to the Best Western. Project attorneys said they hope to start building this spring and open in the summer.