By Joseph S. Pete, Daily Journal of Johnson County
Greenwood has approved a tax incentive for Endress+Hauser Inc. a week after the company requested it.
The company is planning a major expansion that could create more than 230 jobs.
To secure the company's planned $68.8 million investment, the Greenwood City Council unanimously approved a tax abatement for the company with the same speed it did for Arbonne and Nestle Waters North America. The review process normally takes four to six months.
Expedited tax incentives were designed for investments like the one Endress+Hauser is planning, which will offer an average salary of $59,336, council member Ron Deer said.
Endress+Hauser designs, makes and sells industrial tools that measure temperatures, pressure in pipes and levels in tanks. The Switzerland-based company has 274 workers at its Greenwood facility near Pushville Road and U.S. 31.
If the economy doesn't affect business, Endress+Hauser has tentative plans in the next eight years for a new building, major renovations and new equipment, company officials said.
The city gave the company a $6.4 million tax abatement, which phases in property taxes on new buildings and equipment over 10 years. The tax break is designed to offset the initial investment cost.
Endress+Hauser has five business divisions on its 55-acre Greenwood campus, including its U.S. sales headquarters. The company sells its products to the petrochemical, beverage, life science and other industries in markets including Canada, Mexico, Chile and Brazil.
"We had grown and we were bursting at the seams," said Phil Tumey, logistics manager for level and pressure.
"Each of the divisions needed to expand not only their facilities but their production equipment."
Indianapolis-based economic development consultant Ginovus studied the family-owned company's growth needs and also looked at expansions in Charlotte and Houston, consultant Leslie Wagner said.
Endress+Hauser officials are studying several expansion options for the next 12 years.
The new jobs tentatively would be filled through 2016 and would pay well more than the county median wage.