Busche Expanding in Noble County
Busche to add 21 jobs, gets tax abatement
Posted: Monday, July 7, 2014 11:59 pm | Updated: 12:17 am, Tue Jul 8, 2014.
By Joel Elliott email@example.com
ALBION — Busche Enterprise Division Inc. plans to purchase $5 million worth of manufacturing equipment after Noble County Council granted the company an as-yet-undetermined amount of tax abatement.
Busche General Manager James Stewart said the tax abatement would enable the company to create 21 new jobs after purchasing the computer numerical control (CNC) equipment for its S.R. 8 facilities. It is difficult to say exactly how large the abatement will be at this point, Noble County Auditor Jackie Knafel said after Monday’s vote.
“Five million dollars worth of equipment might be bought over a span of time,” she said. “There’s about a million and one determining factors on (the ultimate size of the tax abatement).”
Knafel said the Noble County Assessor’s office will determine the amount abated. The company will be phased into full taxation on the equipment over the next 10 years.
Council members pointed to the number of jobs the company pledged to create in exchange for the tax abatement in support of their votes. Only one member voted against the measure — Wayne Clouse, who said he opposes tax abatements and always votes against them because the county could use the funding.
Busche will start purchasing equipment immediately and complete the setup of the new facilities by the end of 2015, according to documents submitted Monday. The new jobs will pay around $14 per hour.
The company started in 1989 in a pole barn outside Albion, according to the Busche website. The company has grown rapidly over the subsequent decades, acquiring facilities in Alabama, as well.
Most of Busche’s jobs in the Albion plants have gone to Noble County residents, although a contingent from northern Fort Wayne works there as well. The company produces a wide range of products, including components for axles, driveshafts, engines, steering mechanisms, transmissions, brakes and other types of parts.