Firms vie to keep tax abatements
Of the 17 companies whose tax abatements were reviewed Tuesday by the Fort Wayne City Council, 13 walked away with the understanding their abatements are intact for another year.
The council had previously granted the companies tax abatements : one company was granted two : and was weighing whether to waive the companies’ failure to meet application requirements.
Two companies, Precision Die Technology and Coram USA LLC/JD Summit Associates, had their abatements revoked in preliminary votes. Precision Die Technology did not appear for Tuesday’s hearing, leading to the revocation.
Abatements for two more companies, Conestoga LLC and CK Products, hinge upon whether they are able secure enough support among council members for next week’s final vote.
Under the city’s policy, qualifying businesses are eligible for a tax abatement up to 10 years, during which the businesses’ personal property taxes are phased in over time. Businesses typically apply for these abatements when making improvements to their operations.
Most of the companies fell short in their payroll and job creation goals. Representatives for those companies told council there are open positions ready to be filled, but hiring fell short because of a lack of qualified candidates.
City Council will hold a final vote on all 18 abatements at its July 24 meeting.
Companies reviewed Tuesday:
• 817 S. Calhoun LLC
• AccuGear Inc.
• Brooks Construction Co.
• CK Products LLC
• Conestoga LLC
• Coram USA LLC/JD Summit Associates
• Craftline Graphics Inc.
• Tuthill Corporation
• Dirig Sheet Metal/S W Watkins Limited
• FXI Inc.
• Irwin Hudsin Group LLC
• JH Specialty Inc./Hilltrans LLC.
• Precision Die Technology
• Pyromation Inc.
• Randall Lofts
• Revenue Cycle Services Center LLC
• Summit Dental Group/PR Investments/ Regan Presser Corporation