A division of Peoria, Ill.-based Caterpillar Inc. is asking the city of Franklin for a 10-year tax abatement to offset costs related to a $13.6 million investment in local operations.
Summerville, S.C.-based Caterpillar Reman Powertrain said in a city filing that the abatement request is related to new equipment and the expansion of a production line to prepare for additional work, according to Franklin Planning Director Krista Linke.
The company, which refurbishes and restores used machinery, said in the request that the abatement will help retain 338 workers at the plant, Linke said. The Franklin City Council could approve the request at its meeting Sept. 20.
The expansion will be phased in over the next three years, ending in 2013.
Cat Reman operates facilities in the United States, United Kingdom, Europe, Asia and Mexico, and is one of the world’s largest remanufacturers, according to Caterpillar’s website.