County Approves Sweetwater Incentives

Posted: Updated:
Sweetwater broke ground on the expansion last month. (photo courtesy of Governor Eric Holcomb's office) Sweetwater broke ground on the expansion last month. (photo courtesy of Governor Eric Holcomb's office)
FORT WAYNE -

The multi-million-dollar expansion of Fort Wayne-based Sweetwater Sound is receiving assistance from the Allen County Council. The Journal Gazette reports the council unanimously approved more than $2 million in property tax incentives for the project, which is expected to create more than 1,000 jobs.

When the expansion was first announced last month, Sweetwater said it was investing $76 million to build and equip a new warehousing facility and conference center. The company says that investment has now grown to $83 million.

At the Allen County Council meeting Thursday, Sweetwater founder Chuck Surack told the council the company is "a couple years away from being a billion-dollar company." He said Sweetwater continues to grow an annual rate of 20 to 25 percent.

The Fort Wayne City Council is expected to consider a 10-year, $12.5 million real and personal property tax abatement request at its meeting on November 27. The Indiana Economic Development Corp. has already offered Sweetwater up to $9 million in conditional tax credits and training grants for the project, through the company will not be eligible to claim those incentives until Hoosier workers are hired.

You can read more about the Allen County Council's approval from the Journal Gazette by clicking here.

  • Perspectives

    • (photo courtesy of Conexus)

      Getting the Word Out About Manufacturing & Logistics

      As the epicenter of the nation’s advanced manufacturing and logistics industries, Indiana has a compelling story to tell about how Hoosier companies make and move the goods people depend on every day. Our goal is to ensure everyone hears these stories – many of which share a common theme focused on cutting-edge technologies that are transforming the way products are made and moved around the world and the people who use them. Conexus Indiana launched an...

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • (photo courtesy of The Times of Northwest Indiana)

      Valpo Mansion May Fall to Wrecking Ball

      A one-time mansion that once hosted dignitaries and politicians while they visited Valparaiso appears to be facing demolition, following years of decline and disrepair.  The stately mansion, known locally as the Brown home, maybe knocked down and replaced with condominiums, according to our partners at The Times of Northwest Indiana. 

    • The Honda Greensburg plant opened in 2008.

      Honda to Invest $4M, Add Jobs at Greensburg Plant

      The American Honda Motor Co. continues to invest in its Greensburg, Indiana plant as it has announced the factory will be producing the company’s first electrified sport utility vehicle in the U.S. The company says it will invest more than $4 million and add 34 new jobs in the plant to support production of the CR-V Hybrid.  

    • Photo courtesy of Purdue University

      Purdue Offers 'Stranger Things' Replica Tee

      Purdue University has partnered with trademark licensing agent CLC to produce a special-edition replica Purdue shirt that appeared on an episode of Netflix’s “Stranger Things 3.”  The university also teamed up with Venley to accurately replicate the shirt, which will be available at retailers on the West Lafayette campus and online later this month.

    • Timothy Rushenberg

      Electric Co-Op Names VP

      The Indiana Electric Cooperatives has named Timothy Rushenberg vice president of government relations. He most recently served as vice president of the Indiana Energy Association. Rushenberg has also served with the Indiana Manufacturers Association and the Indiana Department of Local Government Finance.  

    • Alexa Deaton and Colby Shank

      Higher Ed Commission Promotes Two

      The Indiana Commission for Higher Education has promoted Alexa Deaton to associate commissioner and Chief Financial Officer. She previously served as director of accounting. Also, Colby Shank has been promoted to associate commissioner for student financial aid, a new position for the organization. He most recently served as assistant commissioner for financial and student support services.