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9/6/2012

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Blackford County Companies to Invest More Than $11.5 Million in 2011

6/7/2011

Blackford County, Ind. (June 7, 2011) –Four companies in Blackford County will invest more than $11.5 Million in 2011, creating more than a dozen new jobs.  The companies – all located in Hartford City – were granted tax abatement by the Hartford City Common Council.  The assessed value of the approved abatements totals $ 11,561,150.

The Hartford City Common Council approved Real and Personal Property tax abatement for 3M Corporation, Petoskey Plastics, Hearts with Integrity and Hartford City Quality Pallet.

“The Hartford City Common Council continues to reinforce the business-friendly climate found in Blackford County by granting tax abatement for these four quality companies,” said Rob Cleveland, executive director of the Blackford County Economic Development Corporation.  “The Council has shown its willingness to help businesses by granting lesser-used abatements, like the Eligible Vacant Building abatement, as well as the standard Real and Personal Property abatement.  In recent years, the Common Councils in Blackford County have approved abatements for manufacturers, health care companies and consulting firms, just to name a few.  The willingness of the Common Councils to recognize and encourage investment makes it easier for companies to conduct business in Blackford County while retaining and adding employees.”

3M Corporation and Petoskey Plastics will be investing in new manufacturing equipment in 2011.  Both companies were granted 10-year tax abatement on the personal property.  By granting the tax abatements, the Hartford City Common Council will save the companies a combined total of nearly $550,000 over the 10-year period.
Additionally, The Common Council approved two-year Eligible Vacant Building tax abatement or Hearts with Integrity and Hartford City Quality Pallet. Hearts with Integrity purchased a vacant building in Hartford City for its expanding Home Health Agency and will be adding at least four new employees. Hartford City Quality Pallet is a new company to the Blackford Industrial Park. The company invested more than $200,000 in Hartord City and will be adding six employees in 2011. By granting the tax abatements for Hearts with Integrity and Hartford City Quality Pallet, the Hartford City Common Council will save the companies a combined total of more than $10,000 over the next two years.


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