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South Bend Redevelopment Commission <br /> Regular Meeting—May 8, 2012 <br /> 6. NEW BUSINESS (CONT.) <br /> B. Tax Abatements <br /> (1) Resolution No. 3033 approving an <br /> application for personal property tax <br /> deduction for property located at 3605 <br /> West Cleveland Road in the Airport <br /> Economic Development Area (Federal <br /> Mogul Powertrain, Inc.). <br /> Mr. Inks noted that Federal-Mogul <br /> Powertrain, Inc. is a manufacturer of <br /> automotive pistons. Customers include most <br /> of the major foreign and domestic <br /> automotive manufacturers. Operations in <br /> South Bend began in 1987. Federal-Mogul, <br /> Inc. has maintained employment levels <br /> consistently between 300 and 400 full time <br /> positions with total salaries between $18 <br /> million and $20 million. Total gross sales <br /> generated from the South Bend facility <br /> averaged $82 million over the past five years. <br /> Approval of this application will allow for <br /> continued capital investment in the South <br /> Bend facility. Without additional investment <br /> and greater production efficiencies offered by <br /> newer processes and new product lines, more <br /> than 70% of the existing production would <br /> likely be shifted outside Indiana— most likely <br /> to another country. The project will invest <br /> $18,340,000 in new manufacturing <br /> equipment including: <br /> 1. a Gen V 5.3L Piston Line <br /> 2. a Gen V 4.3L/6.2L Piston Line <br /> 3. a LKW 2.5L Piston Line <br /> 4. an aluminum bulk metal furnace <br /> Additionally, they will install a new R& D <br /> prototype lab costing $3,462,000. The total <br /> project cost is $21,802,000. Based on that <br /> 5 <br />