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Council approves five‑year abatement to bring 30 jobs, $8 million investment
Summary
Charlestown City approved a five‑year, 50% personal‑property tax abatement for Global Polymers, which proposes an $8 million investment in a formerly vacant industrial building and expects to bring 30 jobs at an average wage of $31/hour; the estimated abated amount presented was $64,175 over five years.
Charlestown City Council on Feb. 2 approved a local support resolution for a five‑year, 50% personal‑property tax abatement requested by Global Polymers, a recycling operation planning to occupy a vacant industrial building in the Quality Court/Industrial Way area.
As presented to the council, Global Polymers plans an $8 million capital investment and expects to create 30 jobs averaging $31 per hour. The company asked the city to adopt local support for personal‑property abatement so it can qualify for state incentives through One Indiana and other programs. The chair reported the five‑year, 50% abatement would equate to $64,175 in abated personal‑property taxes over the five‑year period as described by staff; the company would continue to pay 50% of the assessed personal property value.
Council members supported the abatement on economic‑development grounds: it would renovate a vacant, deteriorating building, bring higher‑wage jobs to the city, and complement other industrial growth nearby. A motion to award the abatement passed on a voice vote called by the chair.
Why it matters: local tax abatements are a primary tool municipalities use to attract employers and reuse vacant industrial space. The council framed the award as a trade‑off—foregoing a portion of short‑term property tax revenue in exchange for building rehabilitation and job creation.
The transcript does not contain a roll‑call vote with individual member votes; the chair recorded the measure as approved.
