Confirming Tax Abatement - Enzyme Research Laboratories, Inc. 1801 Commerce Dr. (5 Year Personal Property)

Home Browse Search

CITY OF SOUTH BEND PETITION FOR TANGIBLE PERSONAL PROPERTY TAX ABATEMENT CONSIDERATION The undersigned owner(s) of new manufacturing equipment, 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) tax abatement consideration and pursuant to I.C., 6 -1.1 -12.1, et se and South Bend Municipal Code Section 2- 84.52, et se . for this petition states the following: 1. Describe the proposed project, including information about the new manufacturing equipment personal property (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 value of the project to your business. This project encompasses the expansions and relocation of two biotechnology companies. Enzyme Research Laboratories Inc a 24 year old ISO 9001-2000 registered company and R2Diagnostics Inc. (R2D), an 8 -year old ISO 13485 registered company. Enzyme Research Laboratories (ERL) intends to purchase equipment in 2006 in the amount of $350,000, and in 2007 in the amount of $450,000 for a total purchase amount of $800,000. In addition to these purchases the Company intends to purchase furniture and fixtures in the amount of $35,000 over the next 2 1/2 years and $45,000 in computer hardware during the same time period. ERL is s primary supplier of coagulation and fibrinolvtic proteins for the research community. Since its inception in 1982 ERL has become the world leader for quality and value within the industry. R2D manufactures and sells clot based diagnostic kits that test for bleeding and clotting disorders. The expansion and purchase of this additional equipment is necessary to increase the production capacity in both the purified protein line along with increasing the product offerings of R2D. 2. The project will create 6 new, permanent jobs within the first year, representing a new annual payroll of $ 300 750 and will maintain 11 existing permanent full-time and 0 existing part -time jobs representing an annual payroll of $ 324.200 . The projected annual salaries for each new position created are estimated to be as follows: Lab Tech ERL $33,800 - $46,200 Lab Tech R21) $33,800 - $46,200 Research Chemist R21) - $91,000 - $110,500 (The above amounts were computed using the average hourly rate with fringe benefits.) 1