TS Tech made its way to New Castle in 2007. Back then, they promised 300 jobs; today, TS Tech employs 463 people.
At Thursday’s county council meeting, there was talk about possibly expanding the local factory. The plan for TS Tech is to add an additional 167,000 sq. ft. which would almost double the current plant.
Corey Murphy of the New Castle Henry County Economic Development Corp. brought a request to the council for a 10-year tax abatement that would help the expansion project.
The project could have a lot of positive impact, including new jobs for Henry County and the East Central Indiana Region, Murphy said.
The amount of jobs projected with the expansion is 42 with an entry level wage of $14 an hour and an average wage of $17.50.
The investment being asked is $19.1 million, including $9 million for the building itself and $10 million for the equipment that TS Tech will need.
Murphy is recommending a 10-year traditional tax abatement on the building and a 10-year traditional abatement on the personal property, which is the equipment inside the building.
He said the abatement would allow TS Tech to save an estimated $1.5 million on the project.
Murphy introduced the tax abatement discussion Thursday and the Henry County Council gave him approval to move forward with the process.
The council members got their chance to respond to the proposal.
Council member Chad Malicoat said, “I strongly support this. I think we should give Corey Murphy the permission to pursue this.”
“TS Tech has been a great partner for the county,” Harold Griffin said.
Malicoat made the motion to look further into this, and the council passed it 7-0.
The council will have a special meeting at 2 p.m. Monday, June 14 for a public hearing on the tax abatement request.
Murphy said TS Tech built their New Castle plant with future growth in mind. The north ground on the property has been prepared for expansion for 10 years.
If the process goes the way it’s planned, TS Tech could break ground in late June. They are aiming to have it done by the end of next summer.
Watch the next issue of The Courier-Times for more information from the May county council meeting.
The following slideshow images were obtained by the EDC at the TS Tech Groundbreaking ceremony on July 21, 2021.