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Sweetener maker plans $21M in improvements, 151 new jobs

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Heartland Food Product Groups is seeking tax breaks on more than $21 million in building work and new equipment for its production facility in Indianapolis, which it says will result in 151 new jobs.

The Indianapolis Metropolitan Development Commission will consider preliminary approval of the tax breaks—which could save Heartland about $985,000—at its 1 p.m. meeting on Wednesday.

The Carmel-based maker of sweeteners and liquid water flavors plans to invest nearly $18 million in new equipment for its 130,000-square-foot plant at 4635 W. 84th St., plus $3.2 million on building improvements, according to the firm’s applications for two tax abatements.

The equipment, for which Heartland is seeking a personal property tax abatement, would include several new production lines and filling, blending and packaging gear. The building improvements, which would be eligible for real property tax abatements, call for new production rooms and work on the facility’s power, water, drainage and air systems.

Heartland says that the project will ensure the retention of 267 current employees and create another 151 jobs by 2017. The existing jobs pay an average wage of $19.11 per hour, and the new positions would pay $18.02 per hour.

Both proposed abatements would be for eight years. The tax break on equipment would save Heartland $850,379 over that period, according to city staff analysis. During the eight years, the firm still would pay $529,345 in taxes on the equipment, and then about $142,732 annually after the end of the deal.

The tax break on the building improvements would save Heartland $135,288 over eight years. During the abatement, it still would pay $104,160 on the improvements, and then $29,931 annually after the end of the deal.

City planning staff has recommended approval of both abatement requests.
 

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  • Italiano = clueless
    Italiano - you make it sound as if they are getting $$ from the state. The state is offering them a reduction of future taxes for investing in equipment and real estate which is a positive thing in case you didn't know. They are also keeping and adding new jobs in the state of Indiana...which is also positive for Indiana's economy. This is what is known as investing in the future of our economy and is also why Indiana is the top state for business in the Midwest. These are known as win-win's for Indiana and businesses in Indiana.
  • CA-CHING
    Invest 21 million and get ?? million from the state. What a racket

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