F&W eyes purchase of Superior Essex building
By Dennis Nartker | KPC News
Flint & Walling Inc. is acquiring a vacant industrial building in Kendallville for an expansion of its operations that will create 20 new full-time jobs.
Monday, the Kendallville Economic Development Advisory Committee (EDAC) voted to recommend a tax abatement for equipment and a tax abatement for the vacant building after reviewing details of the company’s requests with Flint & Walling Materials Manager Ken Olry and Region 3A Development & Regional Planning Commission Executive Director Jessica Grossman.
Region 3A is handling the abatement applications for Flint & Walling.
“I’m thrilled Flint & Walling is using a vacant building,” said Mayor Suzanne Handshoe. “As Kendallville’s oldest continuous industry, they’ve always been forward thinking and staying viable in our community.”
Committee members voted to recommend a 10-year, sliding-scale abatement for $4,069,500 in new equipment. Over the course of the abatement, the company will save approximately $240,273 in taxes on real property improvements and depreciation of new machinery and equipment.
The sliding scale means 100 percent of the tax will be saved in the first year, 90 percent in the second year, 80 percent in the third year and so on.
The committee also voted to recommend a three-year tax abatement for Flint & Walling’s purchase of the vacant former Superior Essex Inc. building at 800 W. Mitchell St.
Superior Essex closed its magnet-wire plant operation in Kendallville in April 2015, resulting in a loss of 52 jobs. Flint & Walling is in the process of acquiring the 97,995-square-foot West Mitchell Street building.
On the vacant building, Flint & Walling will save approximately $70,138 over the three years. The sliding scale means 100 percent of the tax will be saved in the first year, 66 percent in the second year and 33 percent in the third year.
Flint & Walling will be introducing a new line of electric motors and is planning to bring products currently made in Mexico back to the United States, according to abatement application documents.
The company hopes to occupy the building in December and begin manufacturing by Jan. 31.
Flint & Walling presently has 164 employees at its plant at 95 Oak St. The proposed tax abatements will help the company retain its employees as well as add 20 full-time employees, according to the application applications.
The company has been in Kendallville since 1866, and is focused on continuing to invest in the business, building, employees and community, according to its abatement applications.
Flint & Walling, owned by the Zoeller Co. of Louisville, Kentucky, manufactures pumps, water systems and electric motors at its 205,000-square-foot plant.
The Kendallville City Council will consider the abatement applications and EDAC recommendations at its Tuesday, Dec. 6, meeting.