Reliable Tool & Machine Expanding in Kendallville
Kendallville council OKs abatement
Posted: Tuesday, September 16, 2014 11:00 pm | Updated: 7:14 am, Wed Sep 17, 2014.
By Bob Braley
KENDALLVILLE — The Kendallville City Council Tuesday granted a tax abatement to a rapidly growing local business.
The council voted unanimously to approve phasing in property taxes over five years on $255,000 in new equipment for Reliable Tool & Machine Co. Inc. at 301 W. Ohio St. in Kendallville.
Reliable, also doing business as Reliable Production Machining & Welding, officially said on the abatement form that the new equipment would add two jobs.
But Reliable plans more growth than that. Company President Chuck Drerup told the Kendallville Economic Advisory Council earlier this month that the company is on track for a 20 percent increase in growth and expects to expand its workforce from 134 to 150 employees.