Council Approves Tax Breaks For MonoSolPosted: Updated:
The Portage City Council has approved tax abatement on a proposed expansion by MonoSol LLC. Our partners at The Times of Northwest Indiana report plans call for the company to build a manufacturing facility that would employ five dozen workers. MonoSol says it could employ over 150 at the operation within the next four years.
The company is anticipating three phases of construction, which would total nearly $100 million.
The Times reports a sticking point with members of council was the request for a 10-year, 100 percent abatement on personal property and equipment, which is something the council has never before granted.
Source: The Times of Northwest Indiana