COLUMBUS, Ind. (Sept. 18, 2020) – Advanced Mold & Engineering just got a boost from the city to help stay competitive amid challenges from both the industry and current circumstances.
On Tuesday, Columbus City Council approved a 10-year personal property tax abatement for the local company. According to a memorandum regarding the abatement, the abatement is on a $700,000 investment for “new manufacturing equipment to respond to the needs of the industry for higher production speeds and shorter delivery times.”
Assistant Director of Community Development Robin Hilber said that the abatement will allow the company to save about $21,000 over the next 10 years on personal property taxes, though they will still be paying about $14,000 in taxes during that period.
The memorandum, which was written by Hilber, stated that “The addition of these two machines will allow AME to compete with foreign competition and will result in the retention of 23 jobs and the addition of one new position.”