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Indiana county approves tax break for shredder operator

Indiana county approves tax break for shredder operator
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SMS Shredding, a scrap metal recycler located in New Carlisle, Indiana, has been approved for a tax abatement package by the St. Joseph County Council at a hearing on March 14. The tax abatement is expected to assist the company as it is middle of expanding its Indiana scrap metal and auto shredding operations.

According to the South Bend (Indiana) Tribune, the County Council voted 7-2 in favor of the tax break, which will be used to support SMS Shredding’s $3.5 million investment in upgrading its auto shredder.

The Tribune notes that the tax breaks include a five-year personal property tax abatement and a six-year real property tax abatement. Combined, the two packages will save the company around $150,000 in taxes.

SMS’ investments at the Indiana site include building an 18,000-square-foot building where it will conduct some processing, purchasing about $2.5 million in equipment and erecting a wall to tamp down sound coming from the facility.

In December 2016, the company went before the County Council seeking the tax abatement. However, the Council deadlocked 4-4 on whether to approve the abatement.

SMS Shredding is a part of Scrap Metal Services, a scrap metal recycling firm headquartered in Burnham, Illinois.

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Source: Recycling Today
Indiana county approves tax break for shredder operator
<![CDATA[SMS Shredding, a scrap metal recycler located in New Carlisle, Indiana, has been approved for a tax abatement package by the St. Joseph County Council at a hearing on March 14. The tax abatement is expected to assist the company as it is middle of expanding its Indiana scrap metal and auto shredding operations. According to the South Bend (Indiana) Tribune, the County Council voted 7-2 in favor of the tax break, which will be used to support SMS Shredding’s $3.5 million investment in upgrading its auto shredder. The Tribune notes that the tax breaks include a five-year personal property tax abatement and a six-year real property tax abatement. Combined, the two packages will save the company around $150,000 in taxes. SMS’ investments at the Indiana site include building an 18,000-square-foot building where it will conduct some processing, purchasing about $2.5 million in equipment and erecting a wall to tamp down sound coming from the facility. In December 2016, the company went before the County Council seeking the tax abatement. However, the Council deadlocked 4-4 on whether to approve the abatement. SMS Shredding is a part of Scrap Metal Services, a scrap metal recycling firm headquartered in Burnham, Illinois.]]>

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