BATESVILLE, IN — Batesville City Council will consider a tax abatement request next month for the proposed buyer of the Shell Building (pictured).
Indianapolis-based IKIO LED Lighting has entered into an agreement to purchase the building on Merkel Road from the city for $1.75 million.
Mayor Mike Bettice said the request calls for a 10-year abatement on a sliding scale, which means it will go down over time from 100% the first year.
The company plans to hire 30 workers over a two-year period.
“We’re really excited about the opportunity to have a new manufacturer in our community providing jobs and providing opportunities for our citizens to work,” said Bettice. “And it’s a growing industry, so I hope that it’s something that will be a part of this community for many years.”
Construction of the 51,000-plus square foot Shell Building was completed in late 2015 on just under 11-and-a-half acres.
The closing on the sale of the building is scheduled for the third week of December.
