Subaru of Indiana Automotive Inc. is a step closer to getting tax abatements on $105 million in proposed investments in its Lafayette plant. The city’s redevelopment commission unanimously approved the incentives last night, but they still must be OK’d by the Lafayette City Council.
It was not immediately known how much money the incentive package would save the Japanese automaker, according to the Journal & Courier of Lafayette.
A new warehouse to be built in 2008 would cost $4.9 million. The warehouse is designed to add capacity as production of the Toyota Camry at the plant is ramped up. The balance of the investment would go toward new equipment in the paint shop and areas where vehicle bodies are assembled.
Subaru is preparing to assemble 2010 models of its Legacy and Outback vehicles.