TERRE HAUTE, Ind. (WTWO/WAWV)– A new business will have to wait to see if they will receive a tax abatement from Terre Haute City Council after the vote was tabled until next month.
Bolder Industries, which works recycling products that are used in tires, purchased a facility located at 4150 Steelton Ave. Chief executive officer and founder Tony Wibbeler said the abatements would help offset rising costs with construction.
“These tax abatements would be incredibly helpful, the cost of this project from the day we decided to move into this has increased by over 30 percent,” he said. “This tax abatement doesn’t solve for that, but it does provide a little bit of help and also provides our staff and our company with a lot of community support.”
Wibbeler said the company wasn’t planning on the abatements, which would total about $2.4 million over ten years when they announced their plan to come to Terre Haute last year.
“The abatement coming up at city council is really important to us,” Wibbeler said. “One, it shows the mutual support. We’re supporting the community we’re bringing investment in, we’re going to create jobs.”
Wibbeler said a number of factors led to him wanting to open a facility in Indiana, his home state.
“Workforce here is ideal for us. There is a lot of industry around here so the type of worker we are looking for to come here, whether it be top-level management or unskilled labor learning a new skill,” he said. “This is all available here and we feel very comfortable that we’re going to find the kind of workforce we’re looking for here in Terre Haute.”
Bolder Industries has said they will bring 60 new full-time jobs to the community, with an annual payroll of $3 million dollars.