Growing Transcendia receives tax abatements

A Richmond film manufacturer hopes to compete in the health care and food and beverage markets after a $10.5 million equipment investment.

Transcendia is adding machinery from Austria to its 300 Industrial Parkway location. Cody Cohoon, the site manager, said new capabilities, such as lamination, will open those markets to the company.

Transcendia was awarded two tax abatements and Eastern Indiana Flex, which leases space at 305 Industrial Parkway to Transcendia, was awarded another during Richmond Common Council’s Aug. 19 meeting. All three abatements were approved with 8-0 votes.

In preparation for its new equipment, Transcendia must invest about $3 million to upgrade its facility. It will also move four sheet extrusion lines with 45 employees into Eastern Indiana Flex’s building. That building requires about $3.5 million in upgrades.

Cohoon said the improvements will take Transcendia to the next level. They will also retain 122 employees and create 30 additional jobs.

Council’s tax abatement committee scored the requests using metrics council adopted last year. Transcendia received a four-year personal-property abatement with 100% tax relief the first year, followed by 50%, 40% and 20% the final three years. It received an eight-year real-property abatement that begins with 100% tax relief, then follows with 90%, 80%, 70%, 60%, 50%, 40% and 20%.

Eastern Indiana Flex received a six-year real-property abatement that offers 100% tax relief the first year, followed by 80%, 70%, 60%, 40% and 20%. Council approved a waiver for Eastern Indiana Flex to receive its abatement because a misunderstanding resulted in the company filing its application after the project began.

Cohoon said it’s an exciting time for Transcendia, but the company plans further expansion.

“We’re just getting started here,” he said. “We have a pretty aggressive strategy to continue growing in Richmond.”

Fireworks ban?

Resident Brenda Johnson spoke to council about banning fireworks, including the Fourth of July show in Glen Miller Park.

“I contend that allowing activities that cause absolute damage to our environment, our homes and properties, animals, people is simply not acceptable,” Johnson said. “It’s wrong. It’s wrong, people.”

Johnson said she generally opposes government interference in residents’ lives, but hopes council will step in because of irresponsible behavior with fireworks. She prefers celebrations such as parades, festivals and electronic displays.

“If I have to compromise, then keep the city-sponsored ones put on by professionals, but absolutely do away with all this private nonsense and make sure it’s truly done away with,” Johnson said.

Council’s public safety committee will discuss the issue.

Make My Move

Council voted 8-0 to permit application for an Indiana Economic Development Corporation grant related to the Make My Move program.

The grant could provide $60,000 of the cost for the Make My Move contract this year. Wayne County government will provide the additional $20,973.

EDIT contributions

Valerie Shaffer, president of the Economic Development Corporation of Wayne County, presented a four-year contract for the city to continue contributing half its Economic Development Income Tax collections to the consolidated EDIT fund that provides the EDC’s operating budget and dollars for countywide economic development projects.

Shaffer said the city will contribute about $1,035,000 this year to consolidated EDIT, which will receive about $1,843,000 from all participating entities. The city has contributed half of its EDIT money since the tax was enacted in 1993.

Council referred that contract to its finance committee.

An ordinance that would permit Richmond Sanitary District to apply for a $100,000 Community Recycling Grant from the Indiana Department of Environmental Management was also referred to the finance committee.

HPC appointees

Council unanimously appointed Chamaea Edwards and Megan Ripberger to the city’s Historic Preservation Commission.

Dustin Purvis, the city’s planning director, said that fills the seven-seat board for the first time in eight years. He said board members are impressed with Edwards’ and Ripberger’s knowledge and enthusiasm about preservation.