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Council refers JM Hutton tax-abatement ordinances for review after company cites $4.1M investment
Summary
Council referred three ordinances for tax abatements related to JM Hutton (doing business as National Stamping and Fabrication) — covering personal property, R&D and IT equipment — citing approximately $4.1 million in investment and plans to retain 51 jobs and possibly create 37 more.
Council considered three related ordinances (34–36-20-26) submitted for JM Hutton, now operating as National Stamping and Fabrication. A council member summarized the package: the company has a total investment of about $4,100,000, was retaining 51 jobs and anticipates creating up to 37 new positions; the ordinances address personal property, research and development equipment, and information technology equipment deductions under Indiana Code 6-1.1-12.1.
"They have a total investment of about 4,100,000. They are currently 51 jobs that they are trying to retain and possibility of 37 jobs to be created," the presenter said. Councilors agreed to refer each ordinance to the tax abatement committee for evaluation.
