- May 25, 2006
Subaru asks Indiana for $212 million in tax abatements
Subaru is out for millions in Indiana. The automaker is soliciting the city council in Lafayette for $212 million worth of tax abatements so that it can convert its Tippecanoe plant to accommodate Toyota Camry production.
Among other things, Subaru has pledged to install some $205 million in machinery, along with another $7M earmarked for installation of a new loading dock and stamping press.
The company expects to build 40,000 Camrys next year, with an eye towards a full 100,000 units down the road, while affording about 1,000 additional laborers the opportunity to earn a crust.
[Source: The Associated Press via Mlive.com; CBSNews.com]
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