A three-year, $20 million investment in the local economy has earned Therma-Tru a 10-year tax abatement on new equipment for its plant in Butler, Ind.

Therma Tru employees put together a door at the company's Butler, Ind., plant.
Therma Tru employees put together a door at the company’s Butler, Ind., plant.

According to public documents, the city approved the abatement after the company said it would make such an investment and hire 105 additional full-time employees, whose average annual salaries eventually will exceed $35,000. The Butler Economic Development Commission had recommended the action.

The Therma-Tru plant currently employs 720 people.

“Therma-Tru is pleased with the city council decision to grant the tax abatement in conjunction with our company’s commitment to invest $20 million in capital expenditures over the next three years in the form of equipment in our Butler facility,” says company spokeswoman Kathleen Ziprik.

The abatement reduces Therma-Tru’s  local property tax on $20 million in new machinery that will be purchased over the next three years.  Taxes will be reduced by 10 percent each year during the 10-year agreement, resulting in a total savings  of $1,144,496.65 for the company, according to public documents.

Ziprik says the investment is needed “due to growing demands” for the company’s fiberglass door products. “The expansion is the continuation of our efforts to provide our customers with the products they need to be successful in the marketplace,” she explains.

Leave a Reply

Your email address will not be published. Required fields are marked *