Anderson City Council gives OK to GTI tax abatements

Published on 4/19/2016

 

ANDERSON — Two tax abatements for the expansion of the Greenville Technology Inc. have won approval from the Anderson City Council.
 
With little discussion on Thursday the council voted unanimously to approve two resolutions to allow for the expansion of the Anderson facility by 70,000 square feet, creating 25 jobs at an annual salary of $30,784.
 
GTI is investing $8.8 million in real property and $15.2 million in new equipment.
 
Greg Winkler, director of the Anderson Economic Development Department, said GTI is requesting a 100 percent 10-year tax abatement on the new equipment and a 68 percent abatement on the real property.
 
He said the 68 percent abatement is based on the percentage of employees who are from Anderson.
 
“We wanted to make sure this expansion took place in Anderson,” Winkler said. “There was a previous expansion by the company that didn’t come to Anderson but went to Canada.”
 
Winkler has previously said the abatements would save the company a combined $2.8 million over 10 years and that GTI will pay $700,000 in taxes over the decade.
 
Plant manager Jon Adams told council members in March he has been a general manager for GTI since the company was formed and it “loves” the Anderson community and their associates.
 
“There were other options,” he said. “The people are the reason we came to Anderson.”
 
The Anderson facility produces 12 component parts for the Honda Civic and Acura ILK. The expansion will allow GTI to apply finishes to the products it is currently manufacturing.
 
Once completed, the expansion is eventually expected to bring the total number of employees to 350. Currently, GTI employs 230 people and plans to hire 25 in the coming months.
 
GTI, which is located in the Flagship Enterprise Center, plans to start construction this spring depending on the weather.
 
In 2012, the city offered GTI $3.25 million in incentives for the company to locate in Anderson. GTI invested $21.4 million in the facility.


"Anderson City Council gives OK to GTI tax abatement" (2016, April 18).  Retrieved from: http://indianaeconomicdigest.com/main.asp?SectionID=31&SubsectionID=299&ArticleID=83701

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