COLUMBIA CITY â€” Whitley County Council approved a tax abatement for a potential business expansion Tuesday.
80/20, of Columbia City, was awarded the tax abatement for a potential building project. The abatement will apply for real estate ($5.5 million) and personal property ($1.3 million) and will span 10 years, if the company goes forward with the project.
By approving the tax abatement, 80/20 will receive certain tax breaks that would make the expansion more feasible for the company.
â€śWe have already created at least 350 jobs here,â€ť said 80/20 founder Don Wood. â€śWe like Whitley County.â€ť
If the project moves forward, approximately 25 jobs are expected to be created. There would also be an approximate physical addition of 31,000 square feet onto the current structure.
In recent meetings, the council has approved a tax abatement for Kerr Real Estate who is working to develop the northwest end of the Towne & Country Center, Columbia City.
Council members utilize tax abatements to help spur growth within existing businesses as well as bring new companies into the county. This has proved to be a positive step for the council considering Kerr Real Estateâ€™s development with Dunhamâ€™s Sports and now the possible 80/20 expansion.
The next meeting for the council will be Tuesday, March 5 at 8 a.m.
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