April 22, 2010
TIPTON, Ind. (AP) — A central Indiana county is nearing approval of more than $13 million in incentives in hopes of attracting a company to take over a sprawling factory that a Chrysler supplier stopped building in 2008.
Tipton County officials have approved a $330,000 break in property taxes for the factory that German auto parts maker Getrag had planned as a 1,400-worker transmission plant.
That tax break would continue for 10 years if a solar panel manufacturing company that county officials haven't identified takes over the site along U.S. 31 near Tipton. Attorney Rick Hall says the company could bring 850 jobs to the factory.
County Council President Brad Nichols said it would wait until next month for a final vote on offering $13 million in bonds that would lower the building's cost.