A longtime water technology manufacturer in Indianapolis is seeking tax abatement from the city on a plan that could retain nearly 300 jobs. Peerless Pump Co. says its investment could reach $35 million for upgraded facilities, equipment and a new research and development center. The company says the expansion is necessary to compete with other facilities of its kind.

The Metropolitan Development Commission is set to take up preliminary tax abatement approval Wednesday.

If cleared by the commission, it could move on for final approval early next month.

The company has already invested close to $9 million into upgrades that it says has led to 44 jobs.

The city and Peerless have been in discussions since 2010 to acquire city-owned property as part of growth plans.

Source: The Department of Metropolitan Development

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