A Richmond-based film manufacturer hopes to compete in the healthcare and food and beverage markets after a $10.5 million facility investment.
Transcendia is expanding its 300 Industrial Parkway site with machines from Austria. Site manager Cody Cohoon said new capabilities such as lamination would open up these markets for the company.
Transcendia was awarded two tax abatements and Eastern Indiana Flex, which leases space at 305 Industrial Parkway to Transcendia, received another during the Richmond City Council meeting on August 19. All three abatements were approved by an 8-0 vote.
To purchase the new equipment, Transcendia will have to invest approximately $3 million to upgrade its facility. Additionally, four sheet extrusion lines and 45 employees will be moved to the Eastern Indiana Flex building. The upgrade of this building will cost approximately $3.5 million.
Cohoon said the improvements will take Transcendia to the next level and will retain 122 employees and create 30 additional jobs.
The council’s tax abatement committee evaluated the applications against benchmarks adopted by the council last year. Transcendia received a four-year personal property tax abatement with 100% tax relief in the first year, followed by 50%, 40% and 20% in the final three years. It received an eight-year real property tax abatement, starting with 100% tax relief and then following with 90%, 80%, 70%, 60%, 50%, 40% and 20%.
Eastern Indiana Flex received a six-year property tax abatement that provides 100% tax relief in the first year and 80%, 70%, 60%, 40% and 20% relief the following year. The council approved an exemption for Eastern Indiana Flex because the company submitted its application after the project began due to a misunderstanding.
Cohoon said it is an exciting time for Transcendia, but the company plans to continue expanding.
“We’re just getting started here,” he said. “We’re pursuing a pretty aggressive strategy to continue to grow in Richmond.”
Fireworks ban?
Local resident Brenda Johnson spoke to the city council about banning fireworks, including the July 4th show at Glen Miller Park.
“I say it’s just not acceptable to allow activities that cause absolute harm to our environment, our homes and properties, animals and people,” Johnson said. “That’s wrong. That’s wrong, folks.”
Johnson said she was fundamentally against government interference in citizens’ private lives, but hoped the city council would take action against irresponsible use of fireworks. She favored celebrations such as parades, festivals and electronic displays.
“If I have to compromise, I would keep the city-sponsored and professionally run events, but absolutely abolish all the private nonsense and make sure it is really abolished,” Johnson said.
The Council’s Public Safety Committee will discuss the issue.
Make my move
The Council voted 8-0 to approve the application for a grant from the Indiana Economic Development Corporation related to the Make My Move program.
The grant could cover $60,000 of the cost of the Make My Move contract this year. Wayne County government will cover the additional $20,973.
EDIT posts
Valerie Shaffer, president of the Economic Development Corporation of Wayne County, presented a four-year agreement that would allow the city to continue to contribute half of its economic development income tax revenues to the consolidated EDIT fund, which provides the EDC’s operating budget as well as funds for countywide economic development projects.
Shaffer said the city will contribute about $1,035,000 this year to the consolidated EDIT program, which will receive about $1,843,000 from all participating entities. The city has contributed half of its EDIT funds since the tax was implemented in 1993.
The Council has referred this agreement to its Finance Committee.
An ordinance that would allow the Richmond Sanitary District to apply for a $100,000 Community Recycling Grant from the Indiana Department of Environmental Management was also referred to the Finance Committee.
HPC Officer
The council unanimously appointed Chamaea Edwards and Megan Ripberger to the city’s Historic Preservation Commission.
Dustin Purvis, the city’s planning director, said this is the first time the seven-member panel has been filled in eight years. He said panel members were impressed by Edwards’ and Ripberger’s knowledge and enthusiasm for historic preservation.
A version of this article appears in the August 28, 2024 print edition of the Western Wayne News.
