Simple Meds LLC, an Indianapolis-based startup, is seeking a city tax break that will help it open a local distribution facility and hire up to 46 people by the end of 2020.
According to documents filed with the Metropolitan Development Commission, the pharmaceutical home-delivery firm plans to lease 5,500 square feet in an existing 66,000-square-foot building for a distribution center near interstates 465 and 69 on the city’s northeast side.
The company plans to spend $900,000 to equip the facility at 6862 Hillsdale Court with technology and manufacturing equipment, including an automated tablet packager.
The company is seeking a three-year abatement that would save it about 65 percent, or $20,100, on its estimated personal property taxes.
The firm would pay an estimated $10,442 in personal property taxes over the three years and $7,082 annually after the abatement period.
Simple Meds said the incentive will help it retain three employees making an average wage of $63.14 per hour and hire 46 more making $17.01 per hour.
Department of Metropolitan Development staff members said the project wouldn’t be economically feasible without the tax incentive and are recommending the company receive one.
The MDC will consider the tax break at its Wednesday meeting.