Slate Auto Proposes $363M EV Manufacturing Facility in Kosciusko County
Electric Vehicle Maker Seeks Tax Incentives for Major Investment
Slate Auto, an electric vehicle manufacturer, has announced plans to invest approximately $363 million in establishing a production facility in the former LSC Communications building on Old 30 West in Kosciusko County, Indiana. The company is seeking tax abatements from the county to support this substantial investment.
Investment Details and Economic Impact
According to attorney Steve Snyder, representing Slate Auto and Phoenix Warsaw Industrial Investors LLC, the proposed investment includes:
- $59 million in real estate improvements
- $303 million in manufacturing, logistical, and IT equipment
The facility, currently vacant, has an assessed real estate value of $9.59 million and personal property valued at $1.53 million. Slate Auto’s investment aims to revitalize the 1.5 million square foot industrial space, potentially creating approximately 1,679 new jobs with an estimated total annual salary of $93.9 million.
Tax Abatement Request
Slate Auto is requesting the Kosciusko County Council to declare the site an economic revitalization area, the first step in obtaining tax abatements. The proposed abatements include a 10-year period for both real estate and personal property taxes. This initiative is part of a broader incentive package discussed over the past six to seven months, involving negotiations with state and local entities.
“These incentives are what brought Slate to the door and give the county the opportunity to utilize 1.5 million square feet of an industrial facility,” – Steve Snyder
Community and Economic Development
The proposed project is expected to have significant economic benefits for Kosciusko County, including job creation and increased utilization of existing industrial infrastructure. The facility’s focus on producing electric-powered pickup trucks, potentially retailing below $20,000 after federal credits, aligns with broader trends in sustainable transportation and manufacturing.
“It is an opportunity that has been a long time in the making,” – Steve Snyder
Why It Matters
- Job Creation: The project promises nearly 1,700 new jobs, boosting local employment.
- Economic Revitalization: Revamping a vacant industrial site can stimulate further economic activities in the region.
- Sustainable Manufacturing: Producing affordable electric vehicles supports environmental goals and positions the county in the growing EV market.
This summary references reporting by David Slone at Times-Union. Read the full article here.
