Monroe County Companies Compliant With Tax Abatement Rules

Local businesses either retained or created jobs over the past year

The council unanimously approved compliance for local businesses

Photo: Indiana Public Media

The council unanimously approved compliance for local businesses

The Monroe County Council found fourteen businesses in Monroe County to be in compliance with their tax abatement agreements with the county. Fifteen companies were up for review but one went out of business since its last review.

County Council President Geoff McKim says tax abatements allow businesses to grow and create a better economic environment in the county.

“Most abatements are for ten years and they gradually increase in the percentage of the assessed value that that company created that they’re paying taxes on,” McKim says.

McKim says when a company applies for a tax abatement they submit a Statement of Benefits listing the incentives they can provide for employees and the community. The Economic Development Commission then measures the company’s performance.

To be granted compliance businesses like Author Solutions, Baxter Pharmaceuticals and Cook all retained or created jobs over the past year.

Kyle Clayton

Kyle Clayton is a WFIU news producer. He is currently studying journalism at Indiana University and comes to WFIU following an internship in the fall of 2011. After serving in the U.S. Army, he returned home to Indiana in 2008 to begin his education and pursue his interests in writing.

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