Whitestown approves five-year personal property tax abatement for Fiber Global

The Town Council of Whitestown voted unanimously on Oct. 8 to approve a five-year personal property tax abatement for Fiber Global, an engineered-wood manufacturer that presented plans for a Whitestown facility expected to create about 140 jobs by 2029 with average wages above $35 per hour.

Shelby Farthing, director of strategy and innovation with the Boone County Economic Development Corporation, told the council that Fiber Global produces formaldehyde-free engineered wood products from post-consumer cardboard and sought local incentives to secure its investment. "Fiber Global is a climate tech manufacturer pioneering the next generation of engineered wood products," Farthing said, summarizing the project and recommended incentive structure.

Company representatives described operational and environmental features. Mark Schwenker, chief strategy officer for Fiber Global, emphasized product performance and the company's manufacturing process: "We use no urea formaldehyde" and the process uses no water, he said, noting reduced wastewater and emissions risks compared with some traditional MDF processes. The company reported community engagement activities, including local cardboard collection events.

Abatement structure presented to council: a five-year personal-property abatement phased as 100% in year 1, 80% in year 2, 60% in year 3, 40% in year 4 and 20% in year 5. Officials said the project would diversify the town's tax base and bring advanced-manufacturing jobs.

Action: Council adopted resolution 2025-24 approving the tax-abatement deduction for Fiber Global (vote 5-0).

Implementation: The company plans phased capital investments and hiring; staff will finalize required abatement paperwork and monitor the company's compliance with any performance requirements included in the abatement agreement.