Reliable PMW Inc. Expanding in Kendallville
Reliable granted two tax abatements
Posted: Tuesday, May 20, 2014 11:00 pm | Updated: 7:32 am, Wed May 21, 2014.
By Dennis Nartker
KENDALLVILLE — The City Council Tuesday night approved resolutions granting Reliable PMW Inc. two phased-in tax abatements including a noncompliance waiver abatement for machinery Reliable purchased and installed in 2013.
The council also approved second and third readings of an ordinance vacating a platted easement on Shepherd’s Chevrolet Buick GMC property at 550 W. North St., fast-tracking the dealership’s expansion of its body shop building.
No one from the public spoke during a hearing on the proposed noncompliance waiver before the council approved the resolution. The six-year phased-in abatement is for a vertical CNC machine with an assessed value of $137,500. Reliable lies within a designated Economic Revitalization Area and is eligible for abatement. The additional equipment created one full-time job.
Abatements on new machinery normally are considered before the machinery is installed, hence the need for the noncompliance waiver.
The council also approved a resolution granting Reliable 10 years of phased-in abatement on new equipment with an assessed value of $200,000. The additional equipment will enable the company to manufacture at its Kendallville facility at 301 W. Ohio St. a part it previously purchased from China and a new part for the agriculture industry, according to an Economic Development Advisory Committee memo to council recommending the abatement.
The additional machinery, including a CNC lathe, two CNC mills and a hydraulic press, will create two new full-time jobs. Reliable currently has 140 employees.