Reliable Production Expanding in Kendallville
Council approves Reliable incentive
Company receives 5-year abatement for new equipment
Posted: Tuesday, March 17, 2015 11:00 pm | Updated: 6:25 am, Wed Mar 18, 2015.
By Barry Rochford
KENDALLVILLE — Reliable Production Machining and Welding was granted a five-year tax abatement Tuesday night by the Kendallville City Council for a $235,000 investment in new equipment.
The company, 301 W. Ohio St., will also add two employees to its current workforce of 133. The two new positions are expected to pay a total of $75,000.
According to a tax abatement application filed with the city, the investment includes a new computer numerical control lathe, computer equipment and warehouse racking.
The five-year abatement is projected to save Reliable a total of $8,386 in property taxes.
“It’s always good to see new investment being made in our community,” Councilman Regan Ford said after the abatement was unanimously approved. “Thank you, Reliable, for doing that.”