MIAMI COUNTY — The Miami County Commissioners voted to approve a 10-year, 75 percent tax abatement agreement with a local company for an expansion that could create 40 jobs over the next three years.
Label manufacturer Repacorp sought the enterprise zone agreement to expand its Tipp City facilities in order to meet a large contract for RFID (Radio Frequency Identification) labels used to inventory merchandise.
Company CEO Rick Heinl said the company has been making RFID labels for several years, but recently received an order for one billion labels, something he said would be impossible without the 40,500 square foot addition.
The expansion is expected to create $1.7 million in payroll for 40 new jobs.
“They’ve been a great corporate partner in Tipp City since the ’70s, when they started in a house,” Assistant City Manager Brad Vath said. Repacorp’s Tipp City facility is currently located on Industry Park Court.
The company has two other manufacturing facilities located in Wisconsin and Arizona.
Repacorp aims to have the addition complete by the end of the year. The total project investment will be anywhere between $13.4 million and $17.7 million, Vath said, which includes construction, machinery and equipment, furniture and fixtures, and inventory.
Tipp City Council approved the enterprise zone abatement at a special meeting held Thursday, June 30. On June 27, the Tipp City school board also voted to accept the enterprise zone agreement, as well as an agreement that allows the city to keep 100 percent of the local income tax revenue from the project.
As part of the agreement, the company will reimburse the Tipp City school district for 100 percent of the estimated tax revenues it would have received without the abatement.
Reach reporter Cecilia Fox at [email protected]