B Walter & Co. expanding in Wabash
Council Oks Tax Abatements
Posted: Tuesday, February 25, 2014 3:30 pm
By Joseph Slacian, email@example.com
Wabash’s oldest industry and one of its newest businesses each received 10-year tax abatements Monday night from the Wabash City Council.
The oldest business, B Walter & Co., received a 10-year abatement on five pieces of new equipment valued at more than $624,000.
Meanwhile, one of the newest businesses, Conner Dentistry, on its new office, 556 N. Cass St., which has an estimated valued at $850,000.
B. Walter, which makes functional hardware, was formed in Wabash in 1886. Its products include Tip restraint, drop leaf supports, top locks, align-n-locks, bunk bed brackets and leaf levelers.
“We’ve changed the mode of operation from wood to all metal now,” President Art Jasen told the council. “We’re the oldest company in Wabash, and we’re planning on staying that way.”
The new equipment, according to paperwork filed with the city, is expected to retain 16 of the company’s 23 positions, as well as adding seven new jobs for the firm.
“Much of this investment and the increase in employment is the result of their contracts with Living Essentials,” Bill Konyha, President and CEO of the Economic Development Group of Wabash County, noted. “This is what is known as indirect employment.”
Jasen said Living Essentials “has been a real boom for our company.”
“We also deal with several others here in town,” he said. “We like to stay pretty much local if we can, but we do stretch out pretty far.”
Conner Dentistry, the future office of Dr. John Conner, is adding one additional job, bringing its total employment to eight people.