Medical device manufacturer seeks abatement

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.

Please enable JavaScript to view this content.

Story Continues Below

Editor's note: IBJ is now using a new comment system. Your Disqus account will no longer work on the IBJ site. Instead, you can leave a comment on stories by signing in to your IBJ account. If you have not registered, please sign up for a free account now. Past comments are not currently showing up on stories, but they will be added in the coming weeks. Please note our updated comment policy that will govern how comments are moderated.