IMP Holdings and C&K Tool Expanding in Angola
Angola OK with tax breaks
Posted: Monday, April 6, 2015 11:00 pm | Updated: 8:03 am, Tue Apr 7, 2015.
By Jennifer Decker
ANGOLA — Economic development once again was a common theme at Monday’s Angola Common Council meeting as for companies were thanked for continuing to invest in the city.
Council granted tax abatements to two companies planning to make $930,000 and $1 million in investments.
Dave Koenig, executive director of Steuben County Economic Development Corp. reviewed what each company is doing with council.
IMP Holdings and C&K Tool requested and were granted the abatements that would add a total of 15 jobs.
IMP Holdings, also known as Indiana Machine Products, 406 Growth Parkway and 101 Industrial Drive, were granted two separate abatements, each for an eight-year duration. The first will include $80,000 in roof repairs at the Growth Parkway location and $50,000 in Industrial Drive building repairs.
IMP also received another tax abatement at 409 Growth Parkway on personal property through the addition of $800,000 in new manufacturing machinery and equipment.
The company manufactures dash assemblies and wiring harnesses for the pleasure marine industry. The company plans to add 10 new jobs.
C&K Enterprises, doing business as C&K Tool, 240 Growth Parkway, received a seven-year tax abatement. The company that manufactures machined components for the medical and aerospace fields, plans to add $800,000 in personal property. Also at the same address, ST Co., also doing business as C&K Tool, plans to add $200,000 in real estate improvements. The company plans to add five employees.
Angola Councilwoman Kathy Armstrong toured both facilities and said she was highly impressed with their operations.
“I think it’s money well spent on our part,” Armstrong said.