This incentive, which has successfully enabled the city to expand its current businesses as well as secure new companies, is predicated upon an increase in assessed value as a result of real estate expansion or purchase of manufacturing equipment. Is your company planning an expansion? Increased assessed value as a result of new construction is eligible for tax abatement consideration. Jobs must be created and Hammond residents must be employed. The process involves city-council approval before the project begins.
Does your company manufacture a product and are you thinking of new equipment? The cost of the equipment, including installation, may be eligible for tax abatement. This would also include research and development equipment. Job creation is again a necessity, with Hammond residents given first priority. This process must also be approved by the city council prior to installation, and eligible equipment is either new or new to the state.
The Mayor’s Office of Economic Development will professionally guide any qualified business through this process. Please give Africa K. Tarver, a call at (219) 853-6508 ext. 313. We look forward to helping you.Download Tax_Abatement_Application.pdf