The Spencer Town Council is considering giving medical device manufacturer Boston Scientific a 20-year tax abatement to expand its existing facility.
That would double the square footage of the company’s current cite.
Michael Spinks is president of the Spencer Town Council. He says they’re considering the abatement because the expansion is an opportunity for the community’s economy to grow.
“They want incentives to operate out of this plant from us and the state of Indiana,” he says.
Spinks says Spencer was in competition with some of Boston Scientific’s other existing facilities for the expansion.
The proposed property tax abatement would end after ten years and new equipment tax abatement would end after twenty. Boston Scientific would pay 50-percent of the equipment tax abatement during the last five years.
Boston Scientific will donate up to $100,000 toward economic development initiatives in Spencer per year during the abatement period. Spinks says the expansion could add up to 300 new jobs by 2021.
The next public hearing is scheduled for August 6.