McCrite Scores Tax Abatement For Expansion
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowNEW ALBANY, Ind. - New Albany-based McCrite Milling & Construction Co. Inc. has received tax abatement for an expansion project. The company plans to invest $3.4 million in new equipment and a nearly 10,000 square-foot facility.
McCrite currently has 35 employees and plans to add four more when the expansion project is complete.
The New Albany City Council approved the tax abatements Thursday evening. The first was a ten-year abatement for the new facility and the second was a five-year abatement for the additional equipment.
"The City of New Albany places a high priority on the industrial business community and actively works to attract and retain manufacturing and other commerce by offering favorable tax incentives and services," said New Albany Mayor Jeff Gahan. "We are pleased that McCrite saw the advantages of being in New Albany and the city will be ready to assist them in their growth."
The company specializes in asphalt and concrete milling which can be reclaimed and recycled for future use. One Southern Indiana says the majority of McCrite’s business stems from state and federally funded highway projects in and around Indiana.