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2 molding firms given tax breaks

March 9th, 2016

News Coverage:

March 9, 2016

2 molding firms given tax breaks

City Council OKs abatements

Dave Gong | The Journal Gazette

The Fort Wayne City Council approved tax abatements Tuesday for two area molding businesses.

The first abatement was granted to Calico Precision Molding LLC  for a project totaling $1,012,186.

The company is investing in new processing and information technology equipment, Elissa McGauley, the city’s economic development specialist, told the council.

Calico expects to retain 49 full-time jobs and create 12 new full-time jobs by December 2017. The average annual salary of the new jobs will be more than $29,000 a year, McGauley said. 

The abatement will last seven years and save Calico about $55,000 in property taxes. The abatement passed in a 6-1 vote. Councilmen Paul Ensley, R-1st, and Glynn Hines, R-6th, were absent for the vote. 

“It seems like you have longevity in our city and we’re grateful for that,” said Councilman Tom Didier, R-3rd. 

Accutech Mold & Machine Inc. received a 5-year abatement. Accutech, which has been operating in Fort Wayne since 1996, plans to purchase $250,000 in new manufacturing equipment for its facility on Goshen Road. The company will create one full-time job by December 2018 with an annual salary of about $45,000 as a result of the project, Accutech’s Darrin Gieger told the council.

The abatement will save Accutech close to $13,000 over the 5-year period. The abatement also passed by a vote of 6-1.

One abatement, submitted by Women’s Health Advantage for a $4.5 million project, was withdrawn.