Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Economic Development topic
No spam. Unsubscribe anytime.
Council approves six‑year abatement for B&J Medical with equipment operational condition
Summary
Council approved a six‑year personal‑property tax abatement for B&J Medical, conditioned on equipment being installed and operational within two years; a smaller three‑year abatement for another applicant was deferred pending clarification.
The Noble County council approved a six‑year personal‑property tax abatement for B&J Medical after staff presentations on the company’s planned investment and job creation. Economic development staff said the company currently employs 133 people with roughly $6 million in wages and expects to add jobs with average pay around $105,000, and presented abatement‑term options before the council.
Council members discussed guideline ranges (five‑ and seven‑year minima for certain investment thresholds) and opted for a six‑year abatement for the larger project, with a stipulation that the new equipment be installed and operational within two years or the abatement terms be revisited. Trey moved to approve the six‑year abatement and the motion carried on a voice vote. For a smaller personal‑property abatement application, the council deferred action and required the machinery to be up and running within two years before processing the requested three‑year abatement.
Economic development staff said the abatement schedule proposed for the six‑year term would follow a stepped percentage reduction over the term and estimated first‑year county tax savings around $35,000 under the proposed structure; staff committed to sending corrected, final figures and documentation to the auditor’s office.
