Clinton site receives economic designation for planned growth
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowThe Vermilion County Council has approved a resolution designating a 300-acre site in the city of Clinton an economic revitalization area and granting a 10-year personal property tax abatement to the location. Greenfield-based Elanco Animal Health Inc. (NYSE: ELAN) and Illinois-based Sustainable Sourcing LLC operate facilities on the site.
Sustainable Sourcing specializes in refining animal fats. According to the company website, the rendered products are primarily used in the pharmaceutical, biodiesel, and animal feed industries.
The company says the tax abatement will allow it to hire three new full-time employees and expand operations. It expects to invest about $2 million with the installation of new manufacturing equipment.
“I’m excited to share this great news with our Board of Directors. Continuing our growth in Indiana is vital to our operations as we will be able to service more customers next year but also contribute to the economic growth of the county by hiring more people,” said Sarah Neighbors, controller at Sustainable Sourcing. “We are grateful for the efforts of the Vermillion County Council and the Vermillion County EDC for helping us navigate this process.”
The Vermilion County Economic Development Commission says the tax abatement allows the county to invest in companies that want to grow in the country, bring new jobs and boost the economy.