SMS Shredding looks to receive tax incentives

SMS Shredding looks to receive tax incentives
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SMS Shredding is set to go in front of the St. Joseph County Council for a possible tax incentive package to assist with its soon-to-be-completed expansion plan at its auto shredder operation in New Carlisle, Indiana.

The company had sought a tax abatement package when it looked to add new equipment and construct a building at the site. However, in its proposal to the County Council this past December, council members deadlocked on approving the company for the abatement package (4-4). While the assumption was that the tie killed the abatement, Bill Schalliol, the county’s economic development director, notes that a more careful reading found that a tie could allow the company to resubmit the proposal at the committee level where it could be resubmitted.

Following the reintroduction of the request, members of the Land Use Committee approved the deal, which sends the proposal to the full County Council for a new hearing. That hearing is scheduled for March 14.

Schalliol is optimistic that the Council will approve the request the second time around. He points to the company heeding complaints of the noise expressed by residents by building a wall to reduce the noise.

Additionally, the company is in the middle of its capital investments, which will cost around $3.5 million. The investment will include erecting a new building and installing more equipment and upgrading its auto shredding operation.

Schalliol says the company has already poured concrete for the foundation of the building and is in the process of bringing in equipment to the site.

Schalliol said he is optimistic that the County Council will approve the proposal, which calls for a five-year personal property tax abatement and six-year real property tax abatement would collectively save the plant about $200,000 in taxes.

“I’m optimistic they’ll approve it,” Schalliol said. “I’m hoping we can get some who were against it to go to the pro-business side and vote for it.”

The company, which sells shredded scrap metal to steel mills across the Midwest, is a subsidiary of Burnham, Ill.-based Scrap Metal Services.

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Source: Recycling Today
SMS Shredding looks to receive tax incentives
<![CDATA[SMS Shredding is set to go in front of the St. Joseph County Council for a possible tax incentive package to assist with its soon-to-be-completed expansion plan at its auto shredder operation in New Carlisle, Indiana. The company had sought a tax abatement package when it looked to add new equipment and construct a building at the site. However, in its proposal to the County Council this past December, council members deadlocked on approving the company for the abatement package (4-4). While the assumption was that the tie killed the abatement, Bill Schalliol, the county’s economic development director, notes that a more careful reading found that a tie could allow the company to resubmit the proposal at the committee level where it could be resubmitted. Following the reintroduction of the request, members of the Land Use Committee approved the deal, which sends the proposal to the full County Council for a new hearing. That hearing is scheduled for March 14. Schalliol is optimistic that the Council will approve the request the second time around. He points to the company heeding complaints of the noise expressed by residents by building a wall to reduce the noise. Additionally, the company is in…