Town approves continuing business incentives

FORTVILLE – Officials with the Town of Fortville approved continuing important incentives for three businesses.

DEBO Properties, Thursday Pools and Taxman Brewing Co. received the approvals for continuing tax abatements for improvements the businesses have made in recent years.

All of the abatements deduct the assessed value of improvements by a percentage that declines over the course of 10 years until taxes are fully phased in. Abatements are an important incentive for businesses looking to make improvements that result in new buildings, equipment and jobs. The Hancock Economic Development Council regularly assists businesses seeking such incentives.

After abatements are approved, Fortville Town Council reviews them every year to determine whether the businesses are in compliance.

Town Council members on May 1 unanimously approved continuing abatements for 26,600-square-foot and 32,000-square-foot speculative buildings DEBO Properties is planning at 3253 W. 1000N.

The abatements the Council unanimously approved continuing for Thursday Pools regard building additions at its facility at 840 Commerce Parkway as well as new molds and equipment to manufacture one-piece fiberglass pools. Paperwork filed for the abatements report that the company is up to 145 employees.

Council members also unanimously approved continuing a tax abatement for the development of Taxman Brewing Co.’s location at 29 S. Main St. in Fortville. The bar and restaurant has 16 employees, according to paperwork filed for the abatement.

The Hancock Economic Development Council welcomes the decisions, and thanks Fortville Town Council members for all they do to help businesses grow and thrive.