City Council Approves Tax Abatement for Memcor Investment

The Common Council for the City of Huntington voted unanimously at their regular meeting on September 8, 2020, to offer a tax abatement to Huntington-based, Memcor, Inc. as the company considers a major investment in new equipment.

 

Memcor, Inc., is a small, disabled veteran-owned manufacturing company based in Huntington, Indiana.  Originally founded in 1962, the company has continuously operated under various entity names over the years.  The company provides machining and assembly services for various customers and industries ranging from the aerospace industry to food service equipment manufacturers.

 

Memcor also manufactures brake and damping assemblies used in the flight control system of helicopters for Boeing Aerospace, Bell Helicopter and the U.S. Government. 

 

"Our Community is very proud of the Memcor team and its continuing investments and growth in Huntington," said Mark Wickersham, executive director of the Huntington County Economic Development Corporation.  "A unanimous City Council vote speaks volumes about the appreciation our City leadership has for our local industries," he concluded.

 

The tax abatement process was initiated in Indiana in 1977.  The system essentially allows local units of government the ability to "phase-in" the tax liability associated with business personal property and real estate improvements made by industries in Indiana.