COLUMBUS, Ind. — City officials have approved tax deductions for a local company’s expansion projects.
The Columbus City Council approved tax abatements for Moravec Realty LLC and Applied Laboratories, Inc. Tuesday night.
Moravec Realty, as the property owner, sought a real property tax abatement for a $4 million facility expansion at Applied Laboratories’ 1600 Brian Drive facility. Applied Laboratories requested a personal property tax abatement on a $3 million investment in new manufacturing equipment. Both requests were granted.
According to city documents, it’s estimated that the abatements will save the companies about $526,000 on real property taxes and $167,000 on personal property taxes over 10 years. During that same time, it’s calculated that the companies will pay about $537,000 in new taxes for the facility expansion and $112,000 for the new equipment.
The investment in new equipment will result in the retention of 149 full-time jobs and the addition of 10 new positions by the end of 2023, said Hilber. Per Applied Laboratories’ incentive application, this includes eight jobs in production/manufacturing, one in maintenance and repair, and one in transport/material moving. The average hourly wage for these positions will be $18.54.
The company wrote in its application the personal property abatement is for “filling and related packaging equipment to meet growing demand in the nasal saline market.” This equipment is related to the company’s bag-on-valve products.
Additionally, the approved abatement resolution stated that the company is planning a 45,000 square foot expansion onto the facility’s west side to “accommodate additional warehousing space.” Applied Laboratories stated in its application that this will make the facility’s total size 165,000 square feet.
For more on this story, see Thursday’s Republic.