SEYMOUR, Ind. — The Seymour Common Council is considering a 10-year tax abatement for L&NK Corporation to support a nearly $9 million expansion at its facility at 1625 Bateman Drive in East Side Industrial Park.
Company representatives and the Jackson County Industrial Development Corporation presented "statements of benefits" outlining plans to invest $637,000 in real estate improvements and $8.3 million in personal property and equipment.
The new investment is projected to retain 74 existing positions and add five new jobs with an average annual salary around $70,000.
City officials noted that L&NK Corporation has invested nearly $54 million in equipment and real estate improvements in Seymour since establishing its local operations in 2010. Even with the proposed abatement, the expansion is expected to generate over $500,000 in property tax revenues for the city over the next 10 years.
The council voted to accept the statement of benefits during its latest meeting, with official resolution votes scheduled for upcoming sessions.
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