Bollhoff investing in new equipment
Committee recommends approving abatement for BollhoffPosted: Monday, August 24, 2015 3:53 pm | Updated: 3:55 pm, Mon Aug 24, 2015.
By Barry Rochford
KENDALLVILLE — The city’s Economic Development Advisory Committee voted Monday to recommend that the City Council approve a five-year tax abatement for Bollhoff Inc. for more than $860,000 in new manufacturing equipment.
The proposed abatement would save the company a total of $31,016 over the five-year period. According to Bollhoff’s tax abatement application, no new jobs are expected as a result of the additional equipment.
Installation of the $862,527 in manufacturing equipment is expected to begin in mid-September.
Presently, Bollhoff has 43 employees, an increase from 36 in 2012. The company makes metal and plastic fasteners, and joining solutions at its Kendallville plant in the East Industrial Park.
The City Council will consider the abatement request at its Sept. 1 meeting.