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Courier to add new equipment

February 9th, 2012

News Coverage:

Courier to add new equipment

By Dennis Nartker dennisn@kpcnews.net

Thursday, February 09, 2012, 12:50am

KENDALLVILLE — The Redevelopment Commission Wednesday morning recommended a property tax abatement for Courier Kendallville.

The company is seeking 10 years of tax reductions on $1.5 million in new equipment for its plant at 2500 Marion Drive in the East Industrial Park.

No new jobs will be created with the new equipment, and 633 jobs will be retained, according to the tax abatement application. Courier Kendallville comptroller Terry Lewis told commissioners the auto cartoning, bindery and printing equipment is included in the personal property improvements.

The plant is in the Eastside Tax Increment Financing district overseen by the commission.

The abatement would save Courier approximately $86,000 in taxes over the 10 years, based on the current tax rate for machinery and equipment.

The City Council must approve the abatement and is expected to consider the recommendation on Feb. 21.

Courier is the largest employer in Kendallville and Noble County, according to Mayor Suzanne Handshoe. The Kendallville facility prints and binds textbooks and other specialty books for the publishing industry.

Courier Kendallville Inc, is a division of Courier Corp., based in North Chelmsford, Mass., and the third-largest book manufacturer in the nation. Courier Corporation has more than 1,900 employees at 10 major operating locations. Its six printing plants produced more than 175 million books last year, according to the corporation’s website.

For 12 consecutive years the company has been recognized as “The Best Workplace in the Americas” by the Printing Industries of America.

Courier Kendallville has gone through a series of expansions in recent years and added millions of dollars worth of new equipment, creating more than 150 new jobs. The City Council has granted the company tax abatements along the way.

In February 2011, the council granted Courier 10 years of abatement on $2.2 million in new equipment. In June 2010 council granted the company 10 years of abatement on new equipment and 10 years of abatement on a 50,000-square-foot addition to its warehouse at 3094 Lester Drive with total investment of $17 million.

In April 2009, the council granted the company 10 years of abatement on a new $11.6 million, 200,000-square-foot warehouse operation on Lester Drive. In December 2007, council granted Courier 10 years of abatement on $25 million of new equipment for the Marion Drive plant.

Lewis told commissioners that when he started with the local company about 13 years ago, it had about 150 employees.