Council approves seven-year tax abatement for Innovative 3D after company pledges $10 million investment and 10 jobs

Franklin City Council on Nov. 17 approved Resolution 25-12, granting Innovative 3D a seven-year personal-property tax abatement tied to the company’s planned $10,000,000 equipment investment and the creation of 10 new jobs at an average wage of $25 per hour.

Community Development Specialist Dana Monson told the council the Economic Development Commission reviewed Innovative 3D’s request and recommended approval. Monson said the company is expanding at 91 Linville Way and that the equipment investment will support the firm’s growth. "This request tonight is part of that expansion and continued growth that the company is experiencing," Monson said.

Owner Chris Beck described the firm’s transition from rapid prototyping to additive manufacturing production and the scale of its output. "So, currently, we ship probably 12 to 13,000 parts a month that are 3D printed," Beck said, adding the company serves more than 400 customers and focuses on aerospace and defense markets. He told the council the expansion will require additional equipment and employees.

Monson said the proposed abatement includes a seven-year term with a 5% economic development fee and that the property in question is already in an ERA, so no additional designation was required. The council moved to adopt Resolution 25-12 and approved it by voice vote.

The resolution ties the abatement to the project described to the council; council members noted the company’s prior compliance with other abatements and said they appreciated Innovative 3D’s local growth. The council did not specify additional conditions in the discussion recorded at the meeting.

Next steps: the approved resolution will be processed by city staff as part of the company’s expansion permitting and incentives paperwork.