Two small automotive suppliers expect to create or expand operations in Marion County and together are looking to add 93 employees over the next five years.
Reflex & Allen USA Inc. plans to add $1.6 million in new equipment to fulfill a contract for Volvo and hire 48 more people through 2018, according to its request to the county for a property-tax abatement.
Innovative Coating Solutions Inc., a new Japanese joint venture, plans to start operations on Georgetown Road with $1.9 million in new equipment and would hire 45 over the next five years. It also is seeking a tax break.
Indianapolis Department of Metropolitan Development staff has recommend approval of the personal property-tax abatements for each firm. The proposed resolutions will be introduced to the Metropolitan Development Commission of Marion County on July 17.
Reflex & Allen started operations at 2265 Fortune Circle West Drive in Wayne Township in 2012 and has 38 employees. Locally, the international auto supplier makes formed tubes used in light trucking.
The company says it anticipates creating 48 jobs to help fulfill a new contract with Volvo, which also would require a $1.6 million investment in new equipment. The jobs would pay an average $15.47 per hour, while the firm's existing employees make an average $13.70 per hour.
The city's staff is recommending a four-year abatement on the equipment worth $51,615, a 65-percent savings. The company is expected to pay a total of $27,435 in personal property taxes during the abatement period and nearly $14,000 per year after it expires.
Innovative Coating Solutions Inc. is a joint venture of Toyota Tsusho America Inc. and Saski Manufacturing that applies pressure-sensitive adhesives to cloth and foam used in cars. The company wants to establish its first production facility at 7950 Georgetown Road in Pike Township. The startup currently has two employees, and the firm estimates its 45 new hires would earn an average $17.28 per hour.
City staff is recommending a five-year abatement, which would save Innovative Coating $71,484, or 64 percent on its personal-property taxes.
Innovative Coating is expected to pay $39,516 over the five-year period and $16,650 a year afterward.