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CITY OF SOUTH BEND PETITION FOR <br />TANGIBLE PERSONAL PROPERTY TAX ABATEMENT CONSIDERATION <br />The undersigned owner(s) of new manufacturing equipment, personal property, <br />located within the City of South Bend, hereby petitions the Common Council of the <br />City of South Bend for personal property (new manufacturing equipment) tax <br />abatement consideration and pursuant to I.C., 6-1.1-12.1, et seq•, and South Bend <br />Municipal Code Section 2-84.2, et seg•, for this petition states the following: <br />1. Describe the proposed project, including information about the new <br />manufacturing equipment personal property (equipment) to be installed, the <br />amount of land to be used, if any, the proposed use of the equipment, and a <br />general statement as to the value of the project to your business. <br />Tuliptree Associates, LLC ("Tuliptree" is in the process of acquiring 20 acres of <br />undeveloped land in South Bend to build a new manufacturin fgL acility. The initial facility <br />will be approximately 142,400 sf; however; the site will support a facility in excess of <br />350,000 sf and the buildin i~ designed to accommodate phased expansion. The <br />facility will be leased to PEI/Genesis, Inc. ("PEI"). (PEI currently leases a 65,000 sf facility <br />located in South Bend from A,~pletree Associates., Tuliptree, Appletree Associates and <br />PEI all have common ownership. <br />PEI will use the facility as its main world-wide production facility. PEI will consolidate its <br />North American manufacturing operations in this facility retaining 140 full time jobs (total <br />annual payroll of $3.7 million) in South Bend and generating 12 new jobs in the first year <br />of production. PEI`s core business is the manufacture, assembly and distribution of <br />electronic components, primarily electronic connectors. The Company also desi ng sand <br />manufactures electronic systems, cable assemblies and specialized connectors and <br />components. All phases of the production process are housed in the facility including_ <br />receiving, inspection, inventory managLement, warehousing=qualit,~production, testing_and <br />shipping_ <br />PEI currently produces and ships over 5 million connectors a year from its existin facility. <br />Over_80% of PEI's revenue will be generated from this facility and the facility will employ <br />more than 40% of PEI's total employees. Products will be made and shipped to a1150 <br />states and over 50 countries. The success of this project is critical to PEI's future r~ <br />and prosperity. <br />As the new facility will be twice the size of PEI's existin fg acility, new equipment will <br />need to be purchased including: Conve~s_~lue machines, insertion machines, rackers, <br />loaders, ovens, test equ~ment, automatic baggers, mold machines and tools, numerous <br />other tools and equipment, as well as logistical distribution equipment Man pieces of <br />1 <br />