Elkhart Council Approves Compliance Resolution for Treadit Tire and Triangle Rubber

Elkhart City Council's Tax Abatement Committee made significant strides during their June 18, 2025, meeting, focusing on compliance and tax incentives for local businesses. The committee reviewed the compliance status of Treadit Tire and Triangle Rubber Company, both of which are navigating the complexities of tax abatements tied to employment and investment metrics.

Treadit Tire was discussed first, with representatives clarifying that a reporting error had placed them just below the compliance threshold for 2024. Their average wage for additional employees was reported at 89.9% of the required 90%, leading to their classification as non-compliant for that year. However, for 2025, they exceeded the threshold, indicating a positive trend in wage compliance. The committee acknowledged the company's efforts to maintain jobs and diversify their vendor base to mitigate challenges related to tariffs.

The committee unanimously approved a resolution confirming that Treadit Tire is in substantial compliance with their statement of benefits, allowing them to continue receiving tax incentives. This decision is expected to support the company's ongoing operations and workforce stability.

Triangle Rubber Company was also reviewed, with representatives reporting delays in their project due to industry challenges, particularly in the automotive sector. Despite these setbacks, they have made progress and are on track to meet their investment commitments within the designated timeframe. The committee expressed satisfaction with the company's efforts and approved their compliance status, ensuring they can benefit from tax deductions related to their equipment investments.

Overall, the meeting underscored the committee's commitment to supporting local businesses while ensuring compliance with tax abatement regulations. The decisions made are anticipated to foster economic growth and job retention in Elkhart, reinforcing the city's dedication to nurturing its business environment.