The Vincennes City Council will once again consider a five year tax abatement for a local business.
Earlier this year, the council heard from Attorney Yvette Kirchoff, representing Schott North America.
The five year tax abatement comes as Schott begins eyeing plans to purchase new manufacturing equipment for the creation of auto loaders, a new furnace system and Clear Trans Cook Tops.
As part of the agreement, the amount deducted from Schott’s personal property taxes will decrease each year until 2023, beginning with a 100% deduction amount on 2018 taxes.
The council approved the first reading of the proposal at their meeting on January 22nd.