Seymour Council Approves Cummins’ Tax Abatements
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Columbus-based Cummins Inc. (NYSE: CMI) has received approval for three tax abatements from the Seymour City Council. The Daily Journal reports the powertrain maker plans to invest about $20.4 million in a plant expansion, including equipment.
According to Jim Plump, executive director of Jackson County Industrial Development Corp., Cummins had requested two tax abatements for personal property and one for real estate property.
The Daily Journal reports Cummins plans on investing $19.4 million for equipment and machinery. The investments include $11.2 million for manufacturing equipment for an undisclosed project and $8.2 million for a technical center expansion that will add a new assembly line, a paint area, equipment, test cells and other improvements to the facility.
The company also received a $1 million tax abatement for real estate for the technical center expansion.
The Daily Journal reports the council unanimously approved all three tax abatements.