Lafayette City Council approves tax abatements of about $65 million for SIA hybrid production

Jillian Ellison, Education and Families Reporter, (Lafayette) Journal and Courier

Sunday, June 9, 2024 6:06 PM

LAFAYETTE — Lafayette City Council approved two tax abatements for Subaru of Indiana Automotive, providing about $65 million in tax relief, opening the door for development of a new production line of "strong hybrid" Foresters.

The two abatements, coming in at $5 million for real property investments and $59,555,999 for personal property investments, will allow the Lafayette plant to begin production on strong hybrid Forester, said Rachel Hazaray, vice president of general council for SIA, by purchasing the equipment needed for production alongside real property investment modifications.

The abatement allows real and property taxes to be phased in over 10 years.

Kicking off questions, Councilman Kevin Klinker asked Hazaray to explain what made this hybrid vehicle a "strong" one.

Hazaray explained this is a variation of the hyrbid vehicle, with a few aspects causing it to stand out among other hybrid models.

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