Flint & Walling expanding in Kendallville
Flint & Walling gets tax abatement
Posted: Tuesday, March 4, 2014 11:00 pm | Updated: 7:00 am, Wed Mar 5, 2014.
By Dennis Nartker
KENDALLVILLE — A 10-year, phased-in tax abatement for Flint & Walling Inc. on a $940,000 investment in new and reconditioned equipment was granted by the City Council Tuesday night.
The equipment will add production capacity and improve efficiency in the company’s manufacturing facility at 95 Oak St. Flint & Walling manufactures water pumps, sump pumps, sewage pumps and water conditioning equipment.
Flint & Walling began operations in 1866 and is the city’s oldest, continuous industrial complex. The company has 133 employees with total annual salaries of $6.2 million.
No new jobs will be created as a result of the investment.
With the abatement, the company will realize $53,589 in property tax savings for machinery and equipment based on the current tax rate of $2.7225 per $100 of assessed valuation. The phased-in abatement means 100 percent of the tax is abated in the first year, 90 percent the second year, 80 percent the third year and so on down the scale in 10 percent per year increments.
Last month the city’s Economic Development Advisory Committee recommended the abatement.