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South Bend R <br />Regular Meet <br />6. NEW BUSI <br />c. cont <br />elopment Commission <br />- April 10, 1992 <br />(Cont. ) <br />. (Stouffer Industries) <br />Mrs.lKolata asked that this item be <br />continued. <br />ted <br />. (Stouffer Industries) <br />Mrs. Kolata noted that Stouffer <br />Indu tries will be moving from their <br />pres nt location on Niles Avenue to the <br />Airp rt Economic Development Area. <br />Mr. Ponash gave the staff report on the <br />tax ibatement application. The <br />peti ioner proposes to purchase and <br />inst ll new manufacturing equipment for <br />use 'n the manufacture of specialized <br />prod acts and equipment used within the <br />phot graphic and graphic arts <br />Indu tries. The petitioner states that <br />the aew equipment is necessary to.remain <br />comp titive, increase business, and <br />main ain its position as world leader in <br />cert in segments of the photographic and <br />grap is arts industries. The total <br />est' ated cost of the new manufacturing <br />equi ment is $350,000. <br />The project will create one (1) new <br />permanent full -time job representing an <br />annual payroll of $20,000 and will <br />maintain eleven (11) existing permanent <br />full-time jobs and two (2) existing <br />part time jobs with an annual payroll of <br />$410,000. <br />The <br />as a <br />Sout <br />property is properly zoned for the <br />used use. The property is not <br />ted in an area presently designated <br />Tax Abatement Impact Area by the <br />h Bend Common Council. It is <br />-5- <br />ITEM 6.C. WAS CONTINUED <br />