Pharma Startup, Cummins Requesting Tax BreaksPosted: Updated:
A pharmaceutical delivery startup is seeking preliminary tax abatement approval Wednesday on a nearly $1 million facility in Indianapolis. Simple Meds LLC plans to add 46 workers by 2020 to its small current work force. The Metropolitan Development Commission will also consider a request from Columbus-based Cummins Inc. (NYSE: CMI) on its $30 million Indianapolis headquarters. The company says the breaks could total more than $4.3 million over 10 years.
A spokesman for the Department of Metropolitan Development in Indianapolis says these requests do not need city-county council approval.
If approved, they will face a public hearing and could be considered for final approval January 7.
Source: The City of Indianapolis