Steve Garbacz, Commercial Review County Reporter

A Redkey-based fish processor was granted two tax abatements Wednesday evening by the Jay County Council as it looks to expand its operations.

Bell Aquaculture, which grows yellow perch in Albany and processes them in Redkey, received a 5-year abatement on $210,000 of new personal property (equipment) and a 2-year abatement on $20,000 of real property.

Jay County Development Corp. director reported that those were the recommendations of the tax abatement committee. Although the county usually offers 10-year abatements on real property, which includes land and land improvements, since the total was relatively small they chose a short-term abatement of two years.

"They never asked for any in the past," reminded councilman Gary Theurer. All of Bell's land and its facility outside Redkey are paying full taxes every year.

Bradley told the council that Bell, like most business, was hurt by the economic downturn nationally, but noted that the company is beginning a new aggressive marketing strategy.

Bell has also recently moved to set up a tax-increment financing district at its Albany farm site, with the hope to undergo a $92 million expansion in the future.

That expansion would mean more fish would be available to be processed at the Redkey site. Since it takes 18 to 24 months for a batch of fish to go "from diaper to platter," as put by council president Gerald Kirby, increasing the amount of growing space could create a more consistent processing schedule.

"There's a strong potential they're going to need to expand," Bradley said of the Redkey facility, reminding council members that the company had purchased all of the land in the Redkey industrial park to cater to future expansion.

Bell is also looking to begin its own fertilizer line, which will be created from processing waste products.
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