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South Bend Redevelopment Commission <br />Regular Meeting –December 3, 2010 <br /> <br /> <br />The project is estimated to create at least <br />fifteen (15) new, permanent, full-time jobs in <br />the first year of production representing a <br />new annual payroll of at least $350,000. <br />Because the project is new to South Bend <br />there are no existing jobs. <br /> <br /> <br />G.H.S. Corporation has notbeen granted any <br />previous tax abatements. The property is <br />properly zoned for the proposed project. The <br />property is located in the Airport Economic <br />Development Area, which is a Tax Increment <br />Allocation Area; therefore, the petition for <br />personal property tax deduction must first be <br />approved by the South Bend Redevelopment <br />Commission. The project qualifies for five <br />years of personal property tax abatement <br />under the Tax Abatement Ordinance. <br /> <br />Mr. Deahl noted that G.H.S.’s initial estimate <br />of fifteen jobs to be created is expected to <br />double within the first year as production <br />ramps up. <br /> <br />Mr. Varner asked how many suppliers of <br />instrument strings there are nationwide. Mr. <br />McFee responded that there are eight to ten <br />manufacturers. Three of those are the major <br />worldwide suppliers, one on the east coast, <br />one on the west, and G.H.S. in the Midwest. <br /> <br />Mr. Downes asked what attracted G.H.S. to <br />South Bend. Mr. McFee responded that the <br />proximity to Battle Creek, Michigan where <br />his other plant and his home are was <br />important to him; South Bend also has a <br />pretty strong workforce; and he was able to <br />find a building in South Bend that suited him. <br />Mr. Downes said how pleased the <br />Commission is to have them here. <br /> <br /> 5 <br /> <br />