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Medical device manufacturer seeks abatement

May 5, 2011

Indianapolis-based Medivative Technologies LLC has cleared the first hurdle toward seeking property tax abatement for a $2.5 million investment at its east-side manufacturing facility.

The city’s Metropolitan Development Commission on Wednesday granted the abatement preliminary approval. A final vote is set for May 18.

Medivative, a medical device manufacturing contractor, is seeking the abatement to offset equipment costs related to a 9,000-square-foot expansion at its facility on North Catherwood Avenue near East 30th Street.

The five-year abatement will help the company hire 15 employees at an average hourly salary of $22.19 and retain 21 employees at an average hourly salary of $25.61, Medivative said.

Medivative should save $86,405 in property taxes, or 64 percent of its total tax bill, over the abatement period.

Founded in 2002, Medivative is a subsidiary of Indianapolis-based Aircom Manufacturing Inc.
 

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