Council Approves Tax Abatement for Huntington Sheet Metal, Inc. September 13, 2024 Report The Huntington City Council unanimously approved a request for tax abatement made by Huntington Sheet Metal entities DKE, LLC; DANBAR Properties, LLC; and Huntington Sheet Metal Inc., as the company considers investing an additional $5,000,000 in Huntington. The vote was conducted at the public meeting of the Common Council on September 10, 2024. Mark Wickersham, executive director of the Huntington County Economic Development Corporation, thanked company owners, Huntington natives, Daniel and Barbara Drummond, for their continued investments in Huntington. Wickersham also explained to Council that tax abatement (sometimes referred to as "tax phase-in") is an incentive which has been used in Indiana since 1977 and is not a disbursement of tax dollars, but rather, a discount of the tax liability over time. In this case, the company requested a ten-year abatement schedule. The tax liability increases by 10% each year as the abatement decreases annually in the same manner. Tax abatements also include an annual compliance process which requires the taxpayer to annually file a compliance form, known as a CF-1, allowing municipalities the opportunity to annually evaluate if the abatement and associated projects have been successfully compliant. Wickersham continued by adding, "the current, existing tax liability of the company is not effected by the abatement request." Huntington Sheet Metal and its entities are significant property taxpayers in Huntington and their existing liabilities continue, unchanged by Council's approval. City Councilman David Funk extended his thanks and appreciation on behalf of Council. Wickersham added that, "this family's company and employees are among Huntington's finest corporate citizens and our Community is very honored and proud of you," Wickersham said. "Thank you for continuing to believe in and invest in Huntington," he concluded. For more information about Huntington Sheet Metal, visit their company website at www.hsmetal.com.