Terre Haute City Council reviews a tax abatement for the company Pyrolyx

News

TERRE HAUTE, Ind. (WTWO/WAWV) – Thursday, the Terre Haute City Council also reviewed a tax abatement for the company Pyrolyx.

The review stemmed from Pyrolyx not meeting some of the requirements of the abatement.

This includes the number of employees expected to be hired and the salaries.

Due to the abatement Pyrolyx was expected to hire 55 employees by January 1st of 2019.

Pyrolyx did not meet this requirement until March of 2020, and due to COVID-19 and funding issues the number of employees has declined again.

The company says they do expect to reach their abatement requirements again in November of this year.

Thursday, the Terre Haute City Council approved a measure to allow the tax abatement to continue.

“We have every intent on being successful and honoring the commitment and ask the city council work with us as we go forward on the tax abatement because obviously it’s very important to us,” said Al Cutrone, Pyrolyx CEO.

Cutrone says Pyrolyx hopes to build a second plant but that depends on the success of the first one.

Copyright 2020 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Don't Miss

More Don't Miss

Trending Stories