A step ahead for Vincennes. That is what Vincennes City Council is calling a recent preliminary approval of a tax abatement for Schott Industries. Council gave the company a nearly two million dollar graduated tax break on a fourth production line they will install at their Vincennes facility The graduated abatement means it will be at 100 percent on the equipment for the first year, and then drop 20 percent each year through the five year abatement.
Vincennes City Council president Brian Grove says the abatement is part of a move to make Vincennes more attractive to business. However, Grove knows the increased production also underscores the need for more Vincennes housing.
The abatement must be put to a public hearing before Council can consider a final approval.
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