03-25-13 Agenda & Packet - Laserfiche WebLink

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CITY OF SOUTH BEND PETITION FOR TANGIBLE PERSONAL PROPERTY TAX ABATEMENT CONSIDERATION The undersigned owner(s) of new manufacturing equipment, new research and development equipment, new logistical distribution equipment and/or new information technology equipment, all personal property personal property, located within the City of South Bend, hereby petitions the Common Council of the City of South Bend for personal property (new manufacturing equipment, new research and development equipment, new logistical distribution equipment and/or new information technology equipment) tax abatement consideration and pursuant to I.C., 6-1.1-12.1, et seq., and South Bend Municipal Code Section 2-84.2, et seq., for this petition states the following: 1. Describe the proposed project, including information about the new personal property indentified as manufacturing, research and development, logistical distribution and/or information technology equipment ("Equipment") to be installed, the amount of land to be used, if any, the proposed use of the Equipment, and a general statement as to the importance of the project to your business a. The proposed project is the purchase and installation of a new Trumpf 3030 CNC laser cutting machine costing$825,000. Using 5' x 10' sheets of steel as raw material,this machine will cut the steel in a very precise manner to manufacture steel products, or parts, to customer specifications. The project serves to increase our production capacity to meet the growing demands of our customers. The Trumpf 3030 incorporates the very latest technologies to maximize speed and accuracy. [See exhibit D for picture of this proposed equipment] b. The second phase of the project will be a CNC Tube Bender, manufactured by LVD Company. This machine will expand our capabilities by allowing us to bend steel tube, of up to five inch dimensions, into parts supplied to manufactures of industrial products. The rollover protection system(roll bars)found on commercial lawn equipment,would be an example of a product manufactured by this equipment. Adding this capability would enable the company to better-utilize the capacity of other equipment,already owned, which cuts such tube stock into precision lengths and designs. While the exact specification is pending, the investment is expected to total$675,000. c. Other equipment being added in connection with this expansion includes Davi Roll $ 100,000 Trumpf Electric Press Brake $130,000 2. The project will: (a) create 9 permanent, full-time and _0_permanent, part- time jobs within the first year, representing a new annual payroll of$389,673 and (b) will maintain 112 existing permanent full-time and 0 existing part- time jobs representing an annual payroll of$ 4,850,000 for existing employees. 3. Provide current wage information for existing employees including: base rate, (Rev. 5/13/11) 1