Kosciusko County OKs abatement for alloy casting plant

2/12/2016

Kosciusko County OKs abatement for alloy casting plant

Jordan Fouts

Kosciusko County Council approved Thursday tax abatements for the Warsaw manufacturing location of a Sheffield, England-based alloy casting company.

Texmo Precision Castings plans an expansion this year worth $2.48 million in manufacturing and equipment and $2 million in real estate, with about 25 jobs added in the next five years. The company makes rapid prototypes of models and tools for fields including the orthopedic industry. 

The investment, meant to increase capacity and improve efficiency, was slated for either the Warsaw plant at 596 E. CR 200N or the Coimbatore, India, plant, a decision based partly on what tax incentives were offered. Attorney Richard Helm, who presented the request, told council the state of Indiana also offered its own incentive package after the Kosciusko Economic Development Corp. got involved with the project.

Council held a public hearing for the abatement, which drew no comments, then approved a term of five years for equipment and 10 for real estate on the motion of Councilman Larry Teghtmeyer, who said those are the usual terms given for a project this size.