Cardinal IG: tax break for plant

Cardinal IG, part of Cardinal Glass Industries Corp., has been awarded a USD 2.65 million tax rebate to expand its plant at Fremont, Indiana by 3,800 square meters.
Approval for the abatement was gra…

Cardinal IG, part of Cardinal Glass Industries Corp., has been awarded a USD 2.65 million tax rebate to expand its plant at Fremont, Indiana by 3,800 square meters. Approval for the abatement was granted on 21 March 2006 by the Fremont Town Council, said Chris Snyder, Fremont town manager. The company, which employs about 225, makes insulated and laminated glass and is expected to add five jobs with the expansion. The news space will be mostly used for storage, Mr. Snyder said. As part of the abatement, Cardinal will be required to pay 10% of the USD 2.65 million rebate back to the town to be used for economic development projects, Mr. Snyder said. A relatively new state law allows municipalities to do this, he said. The expansion will be Cardinal“s second investment in two years. In 2005, it invested USD 7.4 million to add 12,170 square feet of space, creating about 70 jobs. The plant was set up in 1996.