A waste equipment manufacturer in Pulaski County has announced plans to expand its operations with the hopes of creating up to 85 new jobs by 2014, and county government has given its support in the hopes of economic development.
The county council approved two tax abatements related to the expansion. One such abatement was approved in December on manufacturing and IT equipment for GalFab Acquisitions, and the other to GalCo, Inc., for real-property improvements. Both abatements are 100 percent “alternative-deduction-schedule” abatements for 10 years.
GalFab Acquisitions recently acquired the assets of GalFab, Inc., which had operated in the town of Winamac for the last 20 years. GalFab Acquisitions has announced its intent to invest $720,000 to lease, renovate, and equip the 100,000 square-foot building formerly owned by GalFab, Inc.
It’s not just county government that has lent its support to the expansion. The Indiana Economic Development Corporation offered GalFab Acquisitions, LLC up to $700,000 in conditional tax credits based on the company’s job creation plans. These tax credits are performance-based, which means that until Hoosiers are hired, the company is not eligible to claim incentives. The city of Winamac approved additional property tax abatement at the request of Pulaski County Economic Development.
GalFab Acquisitions plans to begin hiring additional manufacturing positions over the next year and said they will rehire 65 current employees and create up to 20 new positions.