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Medical device manufacturer seeks abatement

IBJ Staff
May 5, 2011
Keywords
Economic Development, Economic Development Agencies, Economic Development Incentives, Factories, Government & Economic Development, Health Care, Health Care & Insurance, Health Care & Life Sciences, Job Creation, Manufacturers, Manufacturing & Technology, Medical Devices, Tax Abatements
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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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  1. "And the success of the Indiana GOP to not allow an expansion of Medicaid had nothing to do with Indiana hospitals' financial woes? Fixed that for you; editorial bias rebalanced. Seriously, there are so many things wrong with Obamacare that the only way one can view it as a success is to assume that it was designed to fail our way into a government single payor healthcare system. The system is complex, creates huge regulatory burdens and overhead and yet still does not have adequate means to control escalating health care costs. But then when you elect a 10th grade math drop out with no quantitative reasoning skills to be President of one of the world's most important economies in troubled times, you can't really be surprised by blatant stupidity.

  2. No NIMBYs here to chase off a decent development. We don't need tons of parking and we'd happily play the role of host to a downtown Whole Foods.

  3. Whatever you do, don't change a single thing about Broad Ripple. I want it to look just like it did in the late '70s, with 30% of the north side of Broad Ripple Avenue burned out and plenty of places to park. That's right Broad Ripple, NEVER CHANGE. Let the world pass you by, don't improve your empty, abandoned lots full of weeds. Someday someone will want to film a zombie movie here.

  4. Hollywood could step in and make a movie about the history about this forlorn series. It could be a full celebrity cast of characters. WOW. http://www.advanceindiana.blogspot.com/2013/02/indiana-taxpayers-forced-to-pay-for.html

  5. This shouldn't come as a shock to many. Austin is a great city, and Indy needs to take some notes. Austin invests in decent transit options, has a highly educated workforce, embraces a creative class, and --despite being the state capital-- is not micromanaged by rural and suburban legislators. Want Indy to grow? Invest in the city (i.e. spend money). Raise taxes a bit, and use the money to improve education. And keep the state legislature out of Indy the other 9 months of the year.

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