South Bend council OKs tax abatements for 2 hydroponic farms

SOUTH BEND, Ind. (AP) — The builders of two prepared hydroponic farms have gained tax abatements from South Bend officers who say the assignments will develop “a new sector” in the northern Indiana town.

The South Bend Common Council accredited the tax abatements Monday for JEM Farms of South Bend and Greenleaf Holdco, both equally of which plan to develop develop at indoor hydroponic farms close to the city’s ethanol plant.

JEM Farms programs to commit about $60 million constructing greenhouses and $118 million on gear to mature strawberries and tomatoes at a complicated that would finally make use of about 110 people today.

Greenleaf proposes paying out $12 million on greenhouses and $68 million on products for developing a selection of lettuces at its Pure Inexperienced Farms operation, which started generation past year.

Equally developers will get a 100% abatement from private house taxes for 5 a long time and a 100% abatement from real estate taxes for five a long time, with that fee subsiding and eventually ending just after the ninth yr, the South Bend Tribune noted.

Council members praised the tasks Monday, stating they would move South Bend to the forefront of an progressive and rapidly increasing field.

“It’s making a new field, new careers, $240 million in new investment,” claimed Councilwoman Sheila Niezgodski.

Joe McGuire, CEO of Greenleaf Holdco, has stated South Bend is a excellent internet site for the greenhouses for the reason that there is sufficient land and the prospective to access 55 million buyers in a 300-mile (483-kilometer) radius.

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