A Hope business is planning a nearly three quarters of a million dollar expansion.
Stephanie Long of Indiana Custom Fabrication and Long Family Enterprises brought a request for a tax break on a new building on Raymond Street to the Hope Town Council this week. She said that the company plans to build across Raymond Street from its current facility.
She said the company has seen enormous growth in its business since it started three years ago. The company primarily fabricates racks for the automotive industry, she said.
The new building will allow the company to expand to between 30 and 50 employees. The company is paying an average wage of $18.76
Long said the new building will cost about $500,000 and a new laser cutting system and other equipment will require about $200,000 in investment. The company will return seeking the equipment tax abatement after the building is finished, Long said.
The council asked its attorney Scott Andrews to review the proposed ordinance and plans to set a special meeting next week to consider the company’s request for a tax abatement on the building construction.