Expanding aluminum recycler gets tax abatements from Kendallville

April 8th, 2016

News Coverage:

April 7, 2016

Expanding aluminum recycler gets tax abatements from Kendallville

Dennis Nartker | News-Sun

KENDALLVILLE — The City Council Tuesday night unanimously approved resolutions granting Aluminum Recovery Technologies tax abatements on real property and personal property.
The company is planning an expansion of its production facility at 2170 Production Road that will create six new jobs with $180,000 in salaries. ART plans to build a 60-foot by 235-foot building and purchase new equipment to make deox shot alloy. Deox aluminum is produced in shot, 2- and 4-ounce cones and pyramids and 5-pound notchbar for use as a deoxidant in making steel.

The operation currently has 35 employees.

The council granted five years of abatement on sliding scales for the building with an estimated cost of $680,000 and new equipment with an estimated value of $150,000. ART will realize total tax savings on the real property of $56,918 and on the personal property of $5,390 during the five-year abatements.

The site is in a designated economic revitalization area and is eligible for tax abatement.

The sliding scale means 100 percent of the property tax is abated in the first year, 80 percent in the second year, 60 percent in the third year, 40 percent in the fourth year and 20 percent in the final year of the five-year abatements.

ART, with corporate headquarters in Detroit, opened its facility in the East Industrial Park in 1999. The operation reclaims and recycles aluminum by drying and melting all different grades of aluminum products.

Last week the Kendallville Economic Development Advisory Committee reviewed ART’s abatement applications before recommending five-year abatements on the real property and personal property.

The abatements now go to the Indiana Department of Local Government Finance for final approval.
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