Pulaski County Council Approves Tax Abatements for IBC Thermoplastics

The manufacturer moving into the old Anvil & Saw property on Pulaski County Road 200 South has got a second financial incentive from the county this week.

The county council approved real and personal property tax abatements, related to IBC Thermoplastics.

Community Development Commission Executive Director Nathan Origer said the business expects to create roughly 10 jobs, with an eventual goal of 15 to 20. “For those of you who aren’t aware, a Russian gentleman out of Chicago purchased the property,” Origer explained. “He’s got a plant manager or plant-manager-to-be. I don’t know of she’s on payroll yet because of the delays they’ve had with electric issues with the town” They are preparing to acquire a blow molding machine and some dyes to operate out there. They’re going to be constructing jerrycans.”

Origer said the company would be the only one in North American making the five- and 10-gallon plastic containers. “All of their competition of those particular products will be foreign,” he said. “They’re really close to landing a couple of contracts, and they’re working, once they get some certifications, on a military contract, which would be really big for them and probably almost max out their capacity and push them, earlier than intended, into expansion.”

IBC Thermoplastics also received a $200,000 loan from the county’s Revolving Loan Fund in November. The county council began the abatement process back in August, but Origer said the request was delayed, amid issues with getting adequate electricity to the site. “There was some miscommunication about what is available and some misunderstanding still that they’re trying to figure out, about how much more capacity they need, depending on the machines, what parts of the machine would require three-phase and which parts are okay on single-phase. They’re still working on that, but finally ready to bring this back to the council after the August meeting.”

Origer said almost a quarter million dollars worth of new construction and another $100,000 in personal property will be eligible for abatement.