Cardinal IG is growing and a tax abatement for real estate and another for personal property will go before the Fremont Town Council this month after receiving favorable recommendation Tuesday from the Fremont Redevelopment Commission. Staff photo by Cardinal IG is growing and a tax abatement for real estate and another for personal property will go before the Fremont Town Council this month after receiving favorable recommendation Tuesday from the Fremont Redevelopment Commission. Staff photo by Ashlee Hoos
Ashlee Hoos
FREMONT — The Fremont Redevelopment Commission has recommended tax abatements be granted for a planned $11 million expansion of glass maker Cardinal IG.
The commission is forwarding a favorable recommendation for tax abatements for personal property and real estate improvements requested by Cardinal IG, 301 E. McSwain Drive, onto the Fremont Town Council for approval at its meeting Dec. 15.
Isaac Lee, executive director of the Steuben County Economic Development Corp., presented on the abatements Tuesday in front of the commission.
“I am very excited to be able to present to you a request by Cardinal for a real property as well as personal property abatement,” Lee said. “The total investment here is just over $11 million.”
The real estate abatement is for a building expansion to accommodate new manufacturing equipment in 2021 and 2022 with an estimated investment of $2.9 million.
The abatement for personal property has an estimated investment of $8.4 million and will be for the purchase of new equipment, including a tempering furnace, seaming equipment, fabrication equipment and other miscellaneous equipment.
The estimated start date on the personal property form was Dec. 1, 2020, with a completion date of Dec. 31, 2023.
The real estate expansion is planned for property surrounding the current plant in the Crossroads Industrial Park. The forms submitted by Cardinal IG give an estimated start date of Jan. 1, 2021, for the real estate improvements and a completion date of Dec. 31, 2022.
Commission President Chris Snyder said the purchase agreement between Cardinal IG and Fremont Development, which owns the land, has been signed. The company is purchasing several lots in the park for the project, though not all will be developed as part of this project.
The commission agreed that over the years, Cardinal IG has been a great company for the community and that a favorable recommendation would go to the town council for its approval.
Cardinal IG currently employs 272 people with an average hourly wage of $22.50.
Lee praised Cardinal for its retention of employees, pay-scale adjustments and profit sharing, saying in the four years he’s been here, Cardinal has always stepped up.
The abatements will go before the town council during its regular meeting at 6 p.m. Dec. 15 at the Fremont Town Hall, 205 N. Tolford St., Fremont. Masks and social distancing will be required for those attending.
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