LOGANSPORT, Ind. (WLFI) — Plans are in the works to grant tax abatements to two long-standing Logansport companies.
During a finance committee meeting earlier this week, the Logansport City Council agreed to move forward with a tax abatement request for two advanced manufacturing companies.
City Council President Teresa Popejoy said she hasn’t heard any negatives concerning the move.
“We feel that they’re investing a great deal in the community; they’ve been longtime partners with our community,” Popejoy said.
Both companies – Logansport Machine Company and Myers Spring – have called Logansport home for several decades. The tax abatement will help finance equipment for the companies, forgiving a portion of personal property taxes on the equipment.
This will help the companies maintain a current workforce while staying competitive within the advanced manufacturing industry.
“People are committed, dyed-in-the-wool, Logansport and Cass County people. And the advance manufacturing jobs are the kind of jobs that raise incomes in not only Cass County but in Indiana,” Mayor Dave Kitchell said.
Kitchell said the city has given tax breaks several times in the past. He said granting an abatement helps build a strong relationship with these companies.
“We have been loyal to them as they have been loyal to the community,” Kitchell said. “They’re good corporate citizens; they take care of their properties; they take care of their personnel. You don’t see a lot of turnover there. You don’t see a lot of environmental issues, you see stability.”
“I just appreciate that we have these companies that are investing in our community that are staying in our community,” Popejoy said.
The tax abatements would span over a five-year period and come out to $3.3 million between the two companies.