A Greenwood firm that manufactures wireless monitoring and control devices plans to move operations into an abandoned plant on the south side of downtown Indianapolis, allowing it to expand and add 25 workers before the end of the decade.
Logical Concepts Inc., which does business as Omnisite, has received preliminary approval from the Department of Metropolitan Development for a tax break to help it buy and renovate a 17,728-square-foot industrial building in the 200 block of West Morris Street for the new headquarters and manufacturing facility, the city said Monday.
The company said it will spend $1.1 million to fix the building, which was built in the early 1900s and was last occupied by a heating and cooling contractor.
Omnisite said it plans to relocate its existing work force of 17 to the site and add 25 more employees by the end of 2019. The existing employees make an average wage of $40.75 per hour. New employees are expected to make an average of $38.50.
The 16-year-old company is seeking a property-tax abatement that would save it an estimated $69,315, or 56 percent, on its tax bill over an eight-year period. The company would pay about $53,366 in real property taxes during the abatement period and an estimated $15,335 annually afterward, in addition to the $7,197 in annual taxes currently paid on the property.
The abatement request will be heard Wednesday by the Metropolitan Development Commission and could receive final approval at the April 1 MDC meeting.