MICHIGAN CITY — A Michigan City cable designer and manufacturer that has seen major growth in the last three years is expected to continue growing after being approved for a tax abatement by the Michigan City Common Council.
Sanlo Inc., a subsidiary of Canada-based Central Wire Industries, was approved for a tax abatement at the Sept. 3 meeting. The business is located on Ind. 212, inside the Economic Revitalization Area created by council resolution in November 2018.
Receipt of the tax abatement will allow the company to expand as needed and retain its business in Michigan City, according to Luke Vandercar, general manager.
“Sanlo would like to thank the Common Council for approving our request for a tax abatement,” he said. “This will allow us to further invest in our employees and our facilities in the coming years.”
Over the past three year, Sanlo has increased its workforce from 55 to 88, and is investing more than $800,000 in new and rebuilt equipment, according to Vandercar.
The tax abatement “will allow for continued expansion and capacity in the Michigan City factory” and allow the firm to enter new markets, he said.
Specifically, the ordinance says the firm will purchase and install machinery and equipment, including rebuilding one line and adding a second in its Extrusion Department; and install new cutting equipment and hydraulic presses in its Assembly Department, retiring outdated equipment and allowing it to create new products.
It states the company will spend about $1.05 million on the project between now and December 2020, and grants it an assessed valuation deduction in that amount for a five-year period, beginning with the tax years assesses in January 2020 and January 2021. The exact amount will be determined by the township assessor.
Since 1957, Sanlo has been supplying cable and assemblies for a wide range of commercial and OEM applications for all industries including aerospace, construction, security, agriculture, office furniture and industrial supply.
Economic Development Corporation Michigan City executive director Clarence Hulse said, “EDCMC is proud to partner with existing businesses to help them grow and continue to call Michigan City home. We are happy to assist global companies that chose to expand in Michigan City and retain the local investment and jobs.”
Mayor Ron Meer said the tax abatement will mean more jobs for city residents.
“The business climate in Michigan City is the best I have seen in a long time and my administration will continue to promote business friendly policies and reinvest in our community to retain current companies and the local job,” Meer said. “This is a fast-growing company that will continue to create more jobs for our residents.”
“We appreciate the help that the Economic Development Corporation has provided through this process,” Vandercar said. “Finally, thank you to all our employees who have built a great company that serves our community.”
—From staff reports