The Syracuse, Ind., Town Council passed a resolution on a tax abatement request from Patrick Industries Inc. during its regular monthly meeting Tuesday (July 17) night.
StaceyPage Online reported that Elkhart, Ind.-based Patrick Industries, a key supplier to the RV and manufactured housing industries, recently purchased AIA, a Syracuse company, and plans to expand its operations into the former Liberty Homes building. The company requested a 10-year tax abatement on personal property and a three-year real estate abatement under the “dinosaur” law.
George Robertson, president of the Kosciusko Economic Development Corp. (KEDCO), explained the state is in the process of approving an incentive package for Patrick Industries based on it anticipated expansion. The expansion is expected to bring 65 new jobs to the area. Robertson said the “dinosaur” law would bring new tax revenue from existing buildings by providing an abatement on at least some of the tax revenue.
In addition to the state incentives and requested tax abatements from the town, KEDCO has a new program for manufacturers who are in a growth mode and pay an above average wage to its employees. Robertson said KEDCO will approve a $25,000 grant to Patrick Industries to assist in moving and renovating the Liberty Homes building.