Indiana auto shredder seeks financial aid for expansion plan
Indiana auto shredder seeks financial aid for expansion plan
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SMS Shredding, located in New Carlisle, Indiana, has applied for two tax abatements with the County Council of St. Joseph, Indiana, according to the South Bend Tribune. The company applied for the abatements to assist in the planned $3.5 million expansion project it is undertaking at its shredder facility. The abatements will include one for the equipment to be purchased; the second for the property.
The company is a subsidiary of the recycling company Scrap Metal Services, based in Burnham, Illinois.
The expansion project will include upgrading its auto shredder, which includes adding shredding equipment to increase the plants processing capacity. The expansion plan will include erecting a building that will cover the new downstream system that will be installed.
The Tribune notes that the company claims that increasing the facility’s processing capacity will divert around 6 million pounds of waste from landfills per year. The facility has been operating under the SMS name for about two years. The company hopes to break ground on the project this fall and have it complete by the end of the year.
The company plans to seek a five-year personal property tax abatement for equipment purchases — the maximum duration allowed. But it hasn’t yet determined the duration of the real property tax abatement for building and site improvements, says Bill Schalliol, the economic development director, according to the Tribune.
Schalliol said the company’s project calls for equipment that will enable it to process more shredded metal from scrapped cars that would otherwise be landfill waste. “This system of scanning and shredding will separate and refine the metals much more. It’s sold to different vendors for recycling and doesn’t go to a landfill,” he said. “From a recycling and environmental standpoint, it’s huge.”
SMS acquired the 26-acre New Carlisle property out of receivership for $4.3 million in September 2014. The plant was run for about a year by Indiana Metal Group before it was shut down in October 2013 due to financial woes. That company, which built the plant’s multimillion-dollar car shredder, operated it though a subsidiary called 360 Degree Metal Recycling.
Schalliol notes that his department will submit a report to the County Council for its next meeting on Sept. 27. Following that meeting, the council will hold a public hearing where comments and input can be heard. The final decision on whether or not to approve the abatement will likely be made at the County Council’s meeting on Nov. 9th.
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Source: Recycling Today
Indiana auto shredder seeks financial aid for expansion plan
<![CDATA[SMS Shredding, located in New Carlisle, Indiana, has applied for two tax abatements with the County Council of St. Joseph, Indiana, according to the South Bend Tribune. The company applied for the abatements to assist in the planned $3.5 million expansion project it is undertaking at its shredder facility. The abatements will include one for the equipment to be purchased; the second for the property. The company is a subsidiary of the recycling company Scrap Metal Services, based in Burnham, Illinois. The expansion project will include upgrading its auto shredder, which includes adding shredding equipment to increase the plants processing capacity. The expansion plan will include erecting a building that will cover the new downstream system that will be installed. The Tribune notes that the company claims that increasing the facility’s processing capacity will divert around 6 million pounds of waste from landfills per year. The facility has been operating under the SMS name for about two years. The company hopes to break ground on the project this fall and have it complete by the end of the year. The company plans to seek a five-year personal property tax abatement for equipment purchases — the maximum duration allowed. But it…