The Angola Common Council has approved Resolution 20248, which allows for a deduction in assessed valuation for the installation of new manufacturing equipment by Ingolden Wire within an economic revitalization area in Angola, Indiana. This decision follows a previous meeting where the council tabled the request to ensure alignment on project timelines and commitments from both the city and the company.

The investment, totaling $2.5 million, will focus on advanced manufacturing technologies, including collaborative robots (cobots), lasers, and automated CNC machines. The project is expected to create five new jobs, each offering a wage of $21 per hour. The council has established a five-year traditional sliding scale for tax abatements, starting with a 100% deduction in the first year and tapering to 3% by the fifth year.

Council members expressed their support for the resolution, highlighting the positive impact Ingolden Wire has on the community. The approval reflects the council's commitment to fostering economic growth and job creation in the region. Additionally, discussions touched on sidewalk safety concerns in residential areas, with the mayor acknowledging the need for prioritization of these issues in future planning.