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Confirming Tax Abatement - R2 Diagnostics, Inc. 1801 Commerce Drive (5 Yr. Personal Proeprty)
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Confirming Tax Abatement - R2 Diagnostics, Inc. 1801 Commerce Drive (5 Yr. Personal Proeprty)
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9/12/2012 10:24:20 AM
Creation date
6/8/2012 11:17:29 AM
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City Council - City Clerk
City Council - Document Type
Resolutions
City Counci - Date
5/29/2012
Ord-Res Number
4184-12
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CITY OF SOUTH BEND PETITION FOR <br />TANGIBLE PERSONAL PROPERTY TAX ABATEMENT CONSIDERATION <br />The undersigned owner(s) of new manufacturing equipment, personal property, <br />located within the City of South Bend, hereby petitions the Common Council of the <br />City of South Bend for personal property (new manufacturing equipment) tax <br />abatement consideration and pursuant to I.C., 6 -1.1 -12.1, et seq., and South Bend <br />Municipal Code Section 2- 84.52, et seq., for this petition states the following: <br />1. Describe the proposed project, including information about the new <br />manufacturing equipment personal property (equipment) to be installed, the <br />amount of land to be used, if any, the proposed use of the equipment, and a <br />general statement as to the value of the project to your business. <br />This project encompasses the purchase of various of machinery by R2 <br />Diagnostics, Inc. (R2D),to complement current equipment in order to support <br />client demands and higher volume. R21) is a biotechnology company, that in <br />conjunction with Enzyme Research Laboratories (ERL), focuses on the <br />production of high quality innovative products for the homeostasis market. R2 <br />is an ISO 13485:2003 certified company that uses highly purified and well <br />characterized source proteins and materials to produce reagents for routine <br />coagulation testing with major emphasis on the detection of thrombophillia. <br />R2D intends to purchase equipment in the amount of $459,500 in 2012. <br />2. The project will create 2 new, permanent jobs within the first year, <br />representing a new annual payroll of $ 65,000 and will maintain 15 existing <br />permanent full -time and 1 existing part -time jobs representing an annual <br />payroll of approximately $ 800,000 . The projected annual salaries for each <br />new position created are estimated to be as follows: <br />Lab Tech — R21) - $30,000 - $46,200 <br />Supervisory Position - R2D- $60,000- $90,000 <br />Research Chemist - R21) - $91,000 - $110,500 <br />(The above amounts were computed using the average hourly rate with fringe <br />benefits.) <br />1 <br />
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