Company gets tax break; 40 employees to be hired

Business

November 18, 2009

By JESSE DAVIS The Goshen News Wed Nov 18, 2009, 10:45 AM EST

Tax phase-ins, wages and E-Verify, oh my!

A number of issues were discussed in relation to a proposed tax phase-in for Cequent Performance Products approved during Tuesday evening’s meeting of the Goshen City Council.

According to the resolution, Cequent will be awarded a five-year personal property tax phase-in on manufacturing equipment of an estimated value of $3.9 million. Through the phase-in, the company stands to save approximately $150,000 in tax costs.

In exchange for the phase-in, the company will hire 47 additional employees at wages of $9.62, $14.80 and $17 per hour, with 90 percent hourly and the remainder salaried, and will contribute 15 percent of its annual tax savings back to the city.

The proposal drew comments and concerns from both residents and council members alike.

According to Councilwoman Julia Gautsche, the wages being offered by the company fall below the average for both jobs in general and specifically manufacturing jobs in Elkhart County. She also noted it is estimated that people spend approximately 30 percent of their wages on housing expenses, and that would not be enough to rent a two bedroom apartment, taking into account that the fair market rent for such is $832 per month in the county.

“That means that landlords or people who own these properties

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Company gets tax break; 40 employees to be hired

The Goshen Housing Authority has a $571,050 shortfall. Should the Goshen City Council use money from its $4.7-million “rainy day” fund to pay the debt and maintain the current level of service provided by the voucher program?

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