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Council approves tax abatement for Toyota Material Handling plant expansion
Summary
The City of Columbus approved a 10-year tax abatement for Toyota Material Handling’s Plant 4 expansion, approving an estimated $8.7 million real-property investment and a 9-0 vote by council members.
Columbus City Council on April 11 approved a resolution authorizing a tax abatement for Toyota Material Handling’s expansion of Plant 4, a project the company says will add roughly 60,000 square feet to the facility and involve an $8.7 million investment in real property.
The measure, read as “Resolution Number 20 25,” passed by roll call vote 9-0. Council members approved a deduction for tax abatement in a previously designated economic revitalization area under Indiana Code 6-1.1-12.1; the resolution authorizes the council president to execute the statement of benefits for Toyota Material Handling Incorporated.
Paul Smith, who presented the item to the council, said the…
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