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The matter of Wells Electronic, Inc.
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The matter of Wells Electronic, Inc.
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5/1/2017 3:46:56 PM
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5/1/2017 3:46:54 PM
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City Council - City Clerk
City Council - Document Type
Resolutions
City Counci - Date
1/22/1973
Ord-Res Number
347-73
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r� r <br /> J <br /> REPORT OF CITY OF SOUTH BEND <br /> ECONOMIC DEVELOPMENT CO-MMISSION <br /> MAKING CERTAIN ESTIMATES <br /> Pursuant to the Municipal Economic Development Act of 1965 as <br /> amended, the City of South Bend Economic Development Commission is <br /> required to make certain estimates in regard to the proposed construction <br /> of a building by Wells Electronics, Inc. of South Bend. The estimates are <br /> as follows: <br /> (1) There will be a slight burden on utilities, police and fire <br /> protectioi. since a plant which previously did not exist is being <br /> considered. In our opinion, the increased tax base of the city, <br /> as a result of the new plant, will more than offset the aforementioned <br /> costs. <br /> (2) The total project cost of 11-te {proposed facilities will be approxi- <br /> mately $180, 000. 00. <br /> (3) They number of jobs to be created by the proposed facility <br /> would .:.} approximately 37 resulting in an increased payroll. of <br /> $305, 000 to : 515, 000 annually. <br /> This is an established business .i: our community in the electronics <br /> field. This proposed facility rill increase the tax base and require utilization <br /> of our local construction industry to build the facility. <br /> .,1 <br /> 'i <br /> 7e� <br /> { <br />
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