The Plymouth Common Council approved a tax abatement for the Plymouth Industrial Development Corporation (PIDCO).
In 2021 PIDCO started construction on a 40,000-square-foot manufacturing building with an option to double the facility if needed for Plymouth Molding Group (PMG) for $2.5 million. PMG had been operating in a small facility and having to turn business down. They looked at options outside of Marshall County and even Indiana, but PIDCO was able to entice them to stay in Plymouth.
Initially, it was thought that PIDCO couldn’t apply for a tax abatement because they weren’t hiring any employees, and PMG would be responsible for paying the taxes and PMG couldn’t apply for a real property tax abatement because they didn’t own the property. They did receive a tax abatement on the personal property for the new equipment purchased for the new building.
City Attorney Jeff Houin did some research and determined that PIDCO could apply for the tax abatement, saving PMG thousands of dollars.
Greg Hildebrand said since PMG has moved to the new facility they have created 8 new jobs bringing the employee count up to 30 and increased hourly pay from $16 up to $20. PIDCO was granted a 7-year phase in tax abatement from the Plymouth Common Council.
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