The exterior of Bartholomew County Courthouse in Columbus, Ind., pictured, Thursday, Sept. 29, 2016. Mike Wolanin | The Republic
COLUMBUS, Ind. — More than 40 well-paying manufacturing jobs will be created if the Bartholomew County Council approves two statements of benefits regarding tax abatement Tuesday night.
Sentry BioPharma Services is an Indianapolis-based company that serves 150 global pharmaceutical companies. Through its sister entity, SV Columbus, LLC, Sentry BioPharma has purchased a speculative shell building built by Force Holdings, LLC, said Greater Columbus Economic Development Corp. President Jason Hester.
The company tentatively plans to add 10 jobs by December, 2024 with an expected average hourly wage of $32.80, commissioners Chairman Tony London said. If the council gives their approval, the corporation will be allowed to phase-in their net new taxes over the next 10 years.
Two years ago, Hester said that Force Holdings would invest $3.2 million to construct the 50,000 square foot shell building on two lots within the Meadow Lawn Industrial Park. The building is located north of County Road 800N between Executive Drive and County Road 250W, Hester said.
Sentry BioPhama Services is prepared to invest up to another $9.8 million in construction to finish the building, as well as an additional $1.1 million in new equipment, Hester told the commissioners. Right now, the shell building only consists of walls, a high ceiling and unfinished floors, but this allows everything else to be installed to the wishes of the purchaser, Hester said.
The Bartholomew County commissioners were required to approved tax abatement requests because the companies are located within a Tax Increment Financing (TIF) district, Hester said. Both requests were unanimously approved.
Although tax abatements have been given locally for decades, Hester said there is still a misunderstanding among some members of the public that corporations with abatements won’t pay any taxes at all.
“That’s not at all the case,” Hester said. “This company may pay over $600,000 in net new taxes, depending on how the building assesses, through 2036.”
In addition, the taxes that are phased-in only apply to new property taxes result from expansion or improvements, he added.
Meanwhile, Georg Utz, Inc., a plastic container manufacturer located along County Road 250W, north of the Edinburgh Premium Outlets, will ask the council Tuesday night to approve a similar statement of benefits.
The company, which employs 181 workers, wants to invest $22.3 million in new equipment, as well as another $950,000 to finish out some office space, Hester said.
In exchange for the tax abatements, Georg Utz, Inc. is pledging to add 34 new jobs, as well as retain workers currently on their payroll. Those salaries will be above the county’s average of $28.30 an hour, Hester said.
For more on this story, see Tuesday’s Republic.
