LAFAYETTE, Ind. (WLFI) – A large tax break could be coming to one of Lafayette’s newest manufacturers.
The Lafayette City Council will vote on two tax abatements for GE Aviation. The first is a 10-year tax abatement on personal property for the $53 million worth of equipment the company plans to install.
The second is a 10-year abatement for GE Aviation’s leasing company, Pure Lafayette LLC for real estate.
“The taxes will be phased in over 10 years. The first year they’ll pay a percentage, the second year a percentage, so it gives them a chance to get up and running,” said Lafayette Mayor Tony Roswarski. “We also generate some tax revenue and, of course, at the end of the process, we get the full amount and we got 200 great paying jobs here.”
The council will also vote on two zoning requests. One for a dozen two-story town houses known as the Centennial Townhomes on Brown Street. The other is for a property on N. 36th Street to be zoned as General Business.