Laserfiche WebLink
CITY OF SOUTH BEND PETITION FOR <br />TANGIBLE PERSONAL PROPERTY TAX ABATEMENT CONSIDERATION <br />The undersigned owner(s) of new manufacturing equipment, personal property, located within the <br />City of South Bend, hereby petitions the Common Council of the City of South Bend for personal <br />property (new manufacturing equipment) tax abatement consideration and pursuant to 1. C. 6- 1.1 -12. <br />1 -1 et se ., and South Bend Municipal Code Section 2 -84.2 et seq., for this petition states the <br />following: <br />1. Describe the proposed project, including information about the new manufacturing <br />equipment personal property ( "equipment ") to be installed, the amount of land to be used, if <br />any, the proposed use of the equipment, and a general statement as to the value of the project <br />to your business. <br />G.H.S. Corporation d/b /a GHS Strings the "Petitioner ") is one of the largest domestic <br />manufacturers of acoustic and electric uitaorsf bassdinstrum eats, including for example) strings far. classic. <br />strings . <br />��),.,...�g ,. <br />g _ instruments, mandolins, banjos, fiddles and many other <br />instruments. Petitioner is proposing to relocate its.primyu string manufacturing operations <br />to South Bend, Indiana in a phased transition to ramp and commence production during <br />2011. The Petitioner's project consists of the installation of string manu ac ng equipment <br />including, without limitation. automated ball -end machines) and computer monitored strip <br />tension and winding „etc ui ment,_ having an original cost in excess of $650,000. <br />2. The project will create at least _15 -20 new, permanent, jobs within the first year, <br />representing a new annual payroll of between $350,000 and $500,000. The Petitioner <br />anticipates that the number of jobs (and associated payroll) will nearly double as production <br />progresses through 2011 and 2012. The jobs related to this proposed project are new jobs to <br />the South Bend community. The Petitioner is working with a staffing placement firm to seek <br />qualified candidates for various positions. With the exception of certain salaried positions, <br />Petitioner anticipates paying an hourly wage in excess of $9.00 per hour, together with paid <br />holidays. <br />Estimate the cost of the Equipment: The estimated cost of equipment which will be reported <br />for Indiana personal property taxes is estimated to be between $600.000 and $1,000,000. <br />4. (a) The Equipment is owned or to be owned by the following individuals or corporations <br />(if the business organization is publicly -held, indicate also the name of the corporate <br />parent, if any, and the name under which the corporation has filed with the Securities <br />and Exchange Commission): <br />NAME <br />ADDRESS <br />INTEREST <br />G.H.S. Corporation 2813 Wilber Ave. Owner <br />(or subsidiary) Battle Creek, MI 49015 <br />