June 23rd is the date for Vincennes City Council to reconsider a possible five year tax abatement for Schott’s Vincennes plant. The issue came up Monday night, but Council members unanimously voted to act on the issue later this month.
Vincennes City Council president Brian Grove says the delay allows Council members to thoroughly review the abatement language. Grove gives his opinion that in this case, discretion is the best policy before passing the abatement.
The abatement calls for a full abatement in year one, with 20 percent abatement reductions each year through the fifth year. The requested tax break is on a new production line at Schott; that targeted equipment is work just over a million dollars.
Comments