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Economic Development

Posted on: February 10, 2020

CITY AND NTN REACH AGREEMENT ON EXPANSION

FOR IMMEDIATE RELEASE

ANDERSON, Ind. (February 7, 2020) –

Anderson Mayor Thomas Broderick, Jr. announced today that NTN and the city have reached an agreement that will allow for the expansion of NTN in Anderson. The agreement provides that NTN will invest approximately Fifty-eight million ($58) dollars in additional personal property in the city to be located with the NTN plant. The expansion will allow for heat treatment in the plant. The expansion will create 140 new jobs at the facility with an annual payroll of $5.4 million dollars, plus benefits. The facility will be located on south Layton Road north of 73rd Street. The city has agreed to request a 75% tax abatement for the personal property for a period of 7 years. The tax abatement agreement for the NTN in 2015 was 100% for 10 years.

Mayor Broderick stated, “We are pleased that NTN and the city were able to come to an agreement that will allow this important company to continue to expand and remain part of our community.  This agreement is favorable to both the city and NTN. This new investment into our community will bring new employment and continued economic growth for our citizens.” “This reduced abatement will provide for immediate tax payments upon the property becoming assessable, which will produce tax revenue over the life of the abatement of over 2 million dollars”, Broderick stated. “Additionally after the 7 year abatement we expect to receive over $500,000 per years”

Greg Winkler, Economic Director for the City of Anderson, explained that the agreement is subject to approval by the Anderson City Council. A Declaratory Resolution is set for Thursday February 13th before the council and upon adoption the matter will be set for final action at the March city council meeting. “We are excited that we continue to be successful in bring new jobs and opportunities into our community,” Winkler stated.

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