Aisin Seeking Tax Incentives for Franklin Expansion
Seymour-based Aisin USA Manufacturing is planning a $7.8 million expansion of its Franklin manufacturing facility. Our partners at the Daily Journal report the company is seeking nearly $1 million in incentives to move forward with the project.
Aisin, which has manufactured car door components at its Franklin warehouse since 2005, says the previously-issued tax abatement on the property expired in 2017. The council is expected to consider the tax abatements at its March 1 meeting.
To facilitate the expansion, the Daily Journal reports the developer, Indianapolis-based Denison Properties Inc., and Aisin are requesting a 10-year real property tax break, and a five-year personal property tax break, respectively.
According to Dennison Properties Inc. President Mac McNaught, the tech park plans to more than double the size of the building from 146,000 square feet to 299,000 square feet.
The publication reports the addition will likely be occupied by Aisin, but could also be subdivided.
Aisin is also requesting a tax break to purchase more than $730,000 in new equipment and hire 20 new employees, according to city documents.