The Plymouth City Council members took action Monday night to approve the final step in the process for 10-year, 10 percent declining scale tax abatement for Jingu North America Corporation at 2935 Van Vactor Drive.
Jingu CEO David Saylor said previously that a $31.3 million investment will bring in Original Equipment Manufacturer (OEM) to the unoccupied portion of the building currently being used by Indiana Wheel Company. Saylor said work at Indiana Wheel Company is going much better than originally thought and the expansion with the company will bring more jobs to Plymouth.
Indiana Wheel Company manufactures RV and trailer wheels. Saylor said Original Equipment Manufacturer (OEM) will be added to the building for the manufacture of steel wheels for cars, light trucks and also semi truck wheels.
Jingu North America Corporation is the primary investor and owns about half of Indiana Wheel.
He noted that the two companies reportedly have a non-competing understanding in the proposed contract.
The Plymouth City Council unanimously approved a resolution that adopts a declaratory resolution designating certain real estate to be within an Economic Revitalization Area for purposes of personal property tax abatement for Jingu North America Corporation.
