News From Terre Haute, Indiana

Local & Bistate

May 23, 2014

Casey’s, recycling company get abatements

Convenience store operator now to have larger distribution center

TERRE HAUTE — A recycling company and Casey’s General Stores each passed through a special projects committee of the Vigo County Council Friday, the first step in approving real and personal property tax abatements.

Verdeco Recycling Midwest Inc. will occupy a manufacturing-specific speculative building owned by Garmong Development in the industrial park at 10535 James Adams Street. The California-based company plans to install $5,701,329 in manufacturing equipment and $96,400 in information technology equipment.

Verdeco Recycling intends to start by the end of this year, starting with 12 employees and have at least 24 workers by 2015 with an annual payroll of $986,000, plus benefits, said William Olah, attorney for the company. The council committee voted 3-0 to give a favorable recommendation that the full County Council approve a 10-year personal property tax abatement at its June 10 meeting.

The company processes post-consumer Polyethylene Terephthalate (PET) into high quality, FDA approved food-grade resin using advanced PET-M recycling technology developed by the PTP Group Ltd. in Europe, Witt said. PET and recycled PET are used to make plastic water bottles and other food-grade containers.

The Vigo County site will be its second U.S. manufacturing facility, said Steve Witt, president of the Terre Haute Economic Development Corp. It’s South Gate, Calif., facility has the capacity to produce up to 50 million pounds annually of recycled PET. Recycled PET is a viable alternative to virgin PET and can be used in multiple food packaging and other high-value applications.

In April, Gov. Mike Pence took part in Casey’s General Stores Inc.’s announcement it planned to open a new distribution center at the Vigo County Industrial Park. Witt said the company’s plans have expanded slightly to a 285,000-square-foot new distribution center on 67.5 acres of land. The company, which will invest $22 million, is to employ 185 workers with a payroll of about $5,675,900 annually.

The committee voted 3-0 to give a favorable recommendation for real and personal property tax abatement to the County Council at its June meeting. The council may schedule a special meeting in July to vote whether to give final approval of the abatements, after the abatements have been published and a remonstrance period has passed.

In other business, the committee heard a request for $600,000 from county commissioners for road repair. Councilman Ed Ping moved to approve the full request, to be paid out of the county’s Economic Development Income Tax, however, his motion died for a lack of a second.

Rick Jenkins, a home developer and member of the Vigo County Redevelopment Commission, told the committee that individual taxpayers pay into the EDIT fund, adding that road maintenance would directly benefit those taxpayers.

Councilman Bill Thomas moved that the request be reduced to $300,000 and be forwarded to the full council. Councilman Mike Morris, the committee chair, seconded. Ping voted for the reduced request saying money must be provided for road repair.

“I would vote for $1.5 million. We have the money to do that,” Ping said, as the county receives about $4.8 million in EDIT funds annually.

Morris, after the meeting, said commissioners are in the midst of updating their five-year EDIT spending plan. Morris said he thinks the council “has to look at ways to fund projects,” adding he thought the $600,000 request was too much. “The council works hard to stay fiscally responsible and give the people the services they need and want,” he said.

Reporter Howard Greninger can be reached at 812-231-4204 or howard.greninger@tribstar.com.

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