TERRE HAUTE, Ind. (WTWO/WAWV) — Two companies received tax abatements from the Vigo County Council during their meeting on Tuesday.
The biggest one is for Entek. They proposed and got accepted for a 10-year, 100% personal and real property tax abatement. The company is planning to bring $1.2 billion in investment to Vigo County. They are projected to bring in 600 construction jobs over the next two years. The payroll for these positions would be upwards of $38 million. This abatement passed unanimously as council members said that this was crucial to bringing in Entek to the community.
The other abatements that got approved were proposed by Wabash Valley Resources. This was also a 10-year, 100% personal and real property tax abatement. This would provide 360 constructions jobs with 107 of them being full-time positions. The payroll for those full-time positions would be around $13.5 million. The vote for one abatements of this project passed with a 4-3 vote by the county council.
This was described by multiple members of the county council to be a “once in a lifetime” opportunity for Vigo County. Council members said that these types of things don’t come around this area very often, and to have two of this magnitude in one night was a big deal.
Todd Thacker, Vigo County Council president, said this will have a big impact on the community.
“It means better quality of life. It means more revenue for the city and county, [more] food and beverage tax because we are going to have people coming here to travel. It’s just a boom,” he said.
There will be a follow-up meeting on the tax abatements in July.
