The Huntertown Town Council will hold a public hearing in early January on a tax abatement for a nearly $3 million expansion by a Huntertown electronics manufacturing company.
According to documents filed with the Allen County Department of Planning Services, the $2.8 million expansion by Riverside Manufacturing will bring 24 new jobs to the area. The tax abatement, which was granted preliminary approval from the Town Council on Dec. 17, would save the company just shy of $88,000 over 10 years.
Riverside makes electrical systems and products for harsh-environment vehicles and equipment.
The public hearing for the abatement is set for 6 p.m. Jan. 7 in the Huntertown Administration Building, 15617 Lima Road.
If approved, the abatement will cover new circuit board lines, automation and assembly equipment, molding and metal press equipment and logistical press equipment. Of the $2.8 million being invested into the property at 14510 Lima Road, $2.75 million will be in manufacturing equipment.
The remaining $50,000 investment will go toward logistical distribution equipment.