By Lou Ann Millett
Tribune Correspondent
Most readers have heard the African proverb: “It takes a village to raise a child.” Likewise, it takes many elected and appointed officials to find a company to move into the former Stellantis building at the northeast intersection of US 31 and SR 28.
Although the name of the company has not been revealed yet, it is expected the public will know in a couple of weeks. According to Mike Terry, chair of the County Redevelopment Corporation, those involved in this project signed letters of confidentiality until the company was prepared to reveal its name. In the Tipton County Council meeting it was said the company didn’t want to alert its competition within the industry of producing photovoltaic cell fabrication.
County Economic Development Director Abbie Smith stated the company, presently referred to as IRH Manufacturing LLC, will invest $325 million in equipment and $175 million in facility improvements. Retooling and renovations of the existing factory should begin in the first quarter of 2025; it should be fully operating in the fourth quarter of 2026.
The company has committed to creating 700 jobs with the average wage of $45 per hour or $93,600 annually. Entry level positions will start at $32 per hour.
During a phone interview, Terry stated:
• Workers in the Tipton area could be employed by the company which would train them in how to do the job.
• The beginning salary should even attract workers from outside the county.
• It was acknowledged that Tipton has a housing shortage which won’t be solved by the time the company is open for business.
• The new sewer system being installed and the water tower to be built by the West Utility Plant should be adequate for the manufacturing company’s needs.
On Sept. 17, the Tipton County Council approved a 20-year 60 percent personal property tax abatement and a 10-year 60 percent real property tax abatement for the investment.
Matt Ecklerle of Baker Tilly Municipal Advisors remarked that the abatements are estimated to save the company a little over $24 million over the life of the abatements.
During the RDC meeting, two TIF districts were confirmed, each with a declaratory resolution. The photovoltaic cell fabrication plant would join in the TIF district established at thee 28/31 intersection. Tipton County resident and Cicero Township Board member, Jane Harper, during public comment, reminded the RDC that the TIF districts had not been set up to funnel any funds to the Cicero Township Board for fire protection services. She reported the Indiana legislators were considering changing the TIF rules to allow some TIF monies to be designated to go to emergency services that served the TIF area. Tipton resident Bob Edinger agreed with Harper.
