LAFAYETTE, Ind. (WLFI) – Four more tax abatements were found to be in compliance by the Lafayette City Council Monday night.
As part of an annual review, the council determined that abatements for Caterpillar, Heartland Automotive and two from Nanshan met their employment goals.
Tax abatements allow companies to phase in property taxes on new investments.
“It’s good for the community, it’s good for the company. It helps get them ramped up. We think it’s an effective tool. For us here locally, certainly it’s paid off to be business-friendly,” said Lafayette Mayor Tony Roswarski (D).
As News 18 reported last month, 35 tax abatements were found to be compliant, including three which did not meet their goals.