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Tipton County Council to vote on Getrag site incentive

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The Tipton County Council is set to vote Tuesday evening on $13 million in incentives that could help attract a renewable energy firm to an abandoned factory on U.S. 31 near Kokomo.

The funds would be used to create a bond the county would give to the trust of contractors that own the empty Getrag plant, according to the Kokomo Tribune.

The plant, where transmissions were to be built, has stood empty since 2008. Getrag Manufacturing LLC filed for bankruptcy and halted work on the plant after the company's partnership with Chrysler LLC collapsed. The facility has never been used.

A federal bankruptcy court in Detroit turned the facility over to a trustee group consisting of contractors still owed money on the project. The court set a minimum price of $45 million for the property.

The bond would help the trust lower the price of the plant without losing any money, the newspaper said. The county plans to use Tax Increment Financing to pay for the bond.

Work on the $530 million project came to a halt in October 2008. The factory is 80-percent complete, and it has taxpayer-financed road and utility service.

Tipton County reportedly is one of two locations the unnamed renewable-energy firm is considering to manufacture its solar panels. The company could create up to 800 jobs.

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  1. I am so impressed that the smoking ban FAILED in Kokomo! I might just move to your Awesome city!

  2. way to much breweries being built in indianapolis. its going to be saturated market, if not already. when is enough, enough??

  3. This house is a reminder of Hamilton County history. Its position near the interstate is significant to remember what Hamilton County was before the SUPERBROKERs, Navients, commercial parks, sprawling vinyl villages, and acres of concrete retail showed up. What's truly Wasteful is not reusing a structure that could still be useful. History isn't confined to parks and books.

  4. To compare Connor Prairie or the Zoo to a random old house is a big ridiculous. If it were any where near the level of significance there wouldn't be a major funding gap. Put a big billboard on I-69 funded by the tourism board for people to come visit this old house, and I doubt there would be any takers, since other than age there is no significance whatsoever. Clearly the tax payers of Fishers don't have a significant interest in this project, so PLEASE DON'T USE OUR VALUABLE MONEY. Government money is finite and needs to be utilized for the most efficient and productive purposes. This is far from that.

  5. I only tried it 2x and didn't think much of it both times. With the new apts plus a couple other of new developments on Guilford, I am surprised it didn't get more business. Plus you have a couple of subdivisions across the street from it. I hope Upland can keep it going. Good beer and food plus a neat environment and outdoor seating.

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