Tax abatement could help Indianapolis manufacturer add 43 jobs

The IBJ

The Indianapolis plant of Rexnord Industries LLC is promising to create 43 jobs and retain hundreds more if the city grants a five-year tax abatement.

The abatement is being recommended by the Metropolitan Development Commission, which will take public comments about the decision at a meeting tomorrow.

Milwaukee-based Rexnord's plant at 7601 Rockville Road manufactures industrial-roller and ball-bearing products for industrial uses.

The company is requesting the abatement to offset its $1.8 million investment in new equipment to consolidate two manufacturing lines at another location outside the state into the local facility.

The jobs created by the new production line are expected to pay an average hourly wage of $20.93, Rexnord said. In addition, the company said the new equipment will help to retain 270 jobs paying an average of $25.45 an hour.  

Any abatement granted by the commission still would need the consent of the City-County Council.