A local manufacturer plans to establish 102 new jobs by 2018.

Jim Hiester, president of Carrera Manufacturing, formerly W&M Manufacturing, told Portland City Council the company is planning a $1.2 million expansion.

The company, which is an injection molding and finishing manufacturer, will construct and equip a Class 100 clean room in its current facility, 1000 N. Morton St., Portland. The clean room will allow the company to expand its current finishing and coating capabilities to meet customer demand for anti-fog, anti-glare, thermal and UV-cured coatings.

Council on Monday approved a $75,000 Economic Development Income Tax (EDIT) loan for the company and voted to send two tax abatements to the tax abatement advisory committee.

The city committed $18,750 of EDIT funds to Carrera each year for four years. If Carrera meets investment and job creation levels, the loan will become a grant.

The Indiana Economic Development Corp. has already offered Carrera up to $300,000 in conditional tax credits and up to $200,000 in training grants based on the company’s job creation plans. In order for the company to receive that incentive package, the City of Portland also needed to make a monetary commitment, said Bill Bradley, executive director of Jay County Economic Development Corp.

“IEDC does require local participation in the project,” he said. “It is a requirement … what this does is it unleashes about $500,000 of state incentives for the project.”

Council sent a $1.27 million, five-year personal property tax abatement and a $50,000, 10-year real estate property tax abatement for the business to the tax abatement advisory committee.
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