Members of the Plymouth Common Council took the second and final step in the Tax Abatement process for Complexus Medical during their meeting Monday evening.
Laura Walls, Executive Director of the Marshall County Economic Development Corporation appeared online for the public hearing and reminded council members of her presentation two weeks ago when they declared the area at 2925 Gary Drive, the former 3M facility, to be an Economic Revitalization Area for Complexus Medical. Complexus Medical is a medical device manufacturing facility that makes parts for hip and knee replacements.
Monday evening the City Council considered a real property tax abatement and a personal property tax abatement for 7-years. City Attorney Sean Surrisi said the current value of the Plymouth facility is $1,370,000. The estimated improvement to the real estate is $612,000 and that portion would qualify for the tax abatement. Complexus will also invest $1.2 million for personal property machines and equipment for a total tax abatement of $1,8 million.
Councilman Don Ecker asked the anticipated number of new employees with this tax abatement and Surrisi said 10 new employees to start along with retaining 90 total in Indiana which includes their Mishawaka facility too. Surrisi said, “The company intends to ramp that up substantially and pretty quickly beyond the 10 which was a conservative estimate.”
With no further comments the public hearing was closed. The City Council did pass the resolution confirming the adoption of a declaratory resolution designating the 2925 Gary Drive property to be within an Economic Revitalization Area for the Complexus Medical Tax Abatement.