Indiana Economic Digest | Indiana
Advanced Search

• Most Recent

home : most recent : most recent May 24, 2016

4/21/2012 3:46:00 PM
Syracuse OKs two tax abatements, puts two on hold

Jordan Fouts, Times-Union Staff Writer

SYRACUSE – Town council members renewed tax abatements for two companies Tuesday but, for the moment, rejected two others.

Syracuse councilmen approved renewal of abatements for Patrick Industries, which acquired AIA Countertops last year, and for Jasper Plastics Solutions. They did not OK renewal for Syracuse Properties or Technical Services, noting the companies had fallen short on employment and payroll requirements to remain eligible for benefits.

Technical Services, whose 10-year tax phaseout begun in 2009 was supposed to offset a $3.2 million project, has so far spent only $400,000, according to Town Manager Henry DeJulia. The town has only seen about $250,000 of a projected $1.4 million payroll, he added, while rather than creating eight jobs, the company may have lost one or two.

Syracuse Properties has likewise fallen short of where it should be on payroll and employment by about a third, councilman Brian Woody noted.

Members seemed reluctant to outright decline renewal for the two companies, at least not without determining whether the shortfalls were due to forces outside owners' control – the legal exception to noncompliance.

Editor, John C. DePrez Jr.; Executive Editor, Carol Rogers; Publishers: IBRC and IAR

Software © 1998-2016 1up! Software, All Rights Reserved