The Noblesville Common Council has unanimously approved an Economic Revitalization Area tax phase-in for RZ Automation, a company that specializes in automation for robotics in industrial companies.
Noblesville Economic Development Director Judi Johnson said the seven-year tax phase-in is on the increase in assessed valuation. This results from the construction of a 15,000-square-foot facility with a capital investment of approximately $1,750,00 at 150th Street in Noblesville Business Park, and purchasing new personal property valued at approximately $125,000.
“This tax abatement will help offset the higher costs of building in Noblesville and allow us the resources to accomplish planned growth,” RZ Automation President Tony Hillers stated.
The current employment at RZ Automation is nine employees. Johnson said the company projects hiring five new employees by 2017. RZ Automation is a 10-year-old enterprise that has outgrown its current space at 15223 Herriman Blvd. The average wage for the new five employees will be $65,000 with benefits.
Over the course of the seven-year tax abatement, RZ Automation will save an estimated $140,671. RZ will pay no taxes the first year and will gradually pay approximately $5,000 more each year until paying $30,320 in the final year.