Terre Haute City Council OKs tax break for plastics plant

During a brief special meeting Thursday, the Terre Haute City Council finalized tax breaks for a new product line at a local industry and approved the closure of an alley for a new business.

The council passed a resolution confirming a 10-year personal property tax abatement for a $1.2 million investment in a new manufacturing line at Jadcore, 300 N. Fruitridge Ave. The abatement forgives an estimated $99,000 of $180,000 in taxes on the investment. The company said the new line will create four new jobs with total salaries of about $108,000 per year and retain 255 jobs with a total annual payroll of $10.3 million.