One of the city’s largest employers is adding more than $7.2 million in new equipment next year.
As a result, PK USA will receive a 10-year abatement on personal property taxes for the new manufacturing machinery, logistical, IT and R&D inventory.
Tax abatement allows a company to phase in property tax payments over time.
Local attorney Peter DePrez presented PK’s request to the Shelbyville Common Council. He thanked the council for supporting the company through some tough economic times during the recession that occurred nearly 10 years ago.
“We’re up 370-some employees from our low point,” DePrez told the City Council on Monday evening.
The company now has a total of 596 workers, according to the application for abatement filed with the city.
PK plans to invest more than $5.7 million in manufacturing equipment and $1.1 million in logistical gear in 2018, with information technology and research and development hardware rounding out the total.
Company vice president Bill Kent also thanked the City Council and noted that PK actively supports the Pantry Pals food bank and other charitable efforts in the community, and it offers an in-house recycling program for its employees.
“Next year is our 30th year in Shelbyville,” Kent added.