Laserfiche WebLink
South Bend Redevelopment Commission <br />Special Meeting - June 24, 1993 <br />4. COMMUNICATIONS (Cont.) <br />June 23, 1993 <br />Redevelopment Commission <br />1400 County -City Building <br />South Bend, Indiana 46601 <br />Dear Members of the Redevelopment Commission: <br />The Chamber of Commerce of St. Joseph County is <br />a non-profit business organization that is made up <br />of over 1, 400 firms that employ 75, 000 people in St. <br />Joseph County. The Chamber also has 400 <br />Chamber volunteers working on 31 various <br />committees and a staff of 22 that meets and supports <br />the overall Chamber mission statement which is to <br />serve its members, stimulate economic progress and <br />job opportunities, and enhance the area's quality of <br />life. <br />Within the Chamber is the Existing Business <br />Development Division. The purpose of this division <br />is to enhance existing business retention, success <br />and growth. I'm contacting you on behalf of AE <br />Piston's request for tax abatement for a major <br />expansion. This company is seeking both real and <br />personal property tax deduction on $7,100, 000 in <br />upgrades. It is our understanding that the plans <br />call for construction of a 59, 000 square foot <br />addition to the existing building at an estimated cost <br />of $4,200, 000. In addition, new equipment is to be <br />installed at an estimated cost of $2.9 million. This <br />work over the next two years will be an investment <br />of approximately $21,000,000. In addition to the <br />plant and capital investment, the company plans to <br />create 156 new full -time jobs and add about <br />$4,500, 000 to the payroll. <br />-3- <br />