Development News for Columbus, Indiana

City Council Approves 10-Year Tax Abatement for Capco LLC Expansion

The City Council considered and approved a resolution for a property tax abatement for Capco LLC to facilitate an expansion of their facility at 1349 Arcadia Drive. The expansion includes adding two additional stamping presses, an investment of approximately $1.5 million, and aims to support increased customer demand, improve production capabilities, retain current employees, and expand employment by four additional production workers. The abatement is requested for 10 years, with projected tax savings for Capco totaling $111,000 and net new taxes for the city amounting to $91,000. The project is expected to create four direct jobs and an estimated 136 spin-off jobs in the community, with a net benefit of $53,000 after abatement. The resolution was approved unanimously by the council.