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An expansion project at Gulf Stream Coach Inc.’s Nappanee, Ind., complex will receive a $500,000 tax abatement from the city, according to a report in the Elkhart Truth.
Goshen Common Council members passed a resolution outlining the tax abatement during a special meeting Monday (May 23).
The additional space will be used to shift operations from a plant in nearby Goshen to consolidate Gulf Stream’s Class C production. Gulf Stream said the majority of the 110 positions created by the expansion would be filled by employees from the phased-out Goshen facility.
Construction on the expansion will begin this week, according to Philip Sarvari, Gulf Stream executive vice president. He said employees for the new location will be hired immediately.
Gulf Stream Coach will receive the tax abatement over a five-year period. In addition, sister company Fairmont Homes Inc., owner of the property, will receive a $1.6 million tax abatement over three years. The abatement was allowed after the city declared the property a Business Improvement District, according to the Truth.
Utility lines and other needed infrastructure are already in place to the property and can be fed into the new development, so the city will have no investment connected with the development.