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Business, Economy and Consumer Affairs

WL touts success of its tax abatements

Current tax abatements granted by the City of West Lafayette have resulted in nearly 1,100 jobs.

The figure was highlighted during an annual review of the tax breaks. All nine companies examined are in compliance.

Economic Development Commission President Bill Baitinger says those have created a combined annual payroll of about $19.7 million.

"I think our present course of action, which basically works primarily through tax abatements and very limited use, on a case by case basis, of economic development revenue bonds seems to be working. My guess is these numbers are better than any other place in the state."

He says the average salary at those nine companies is $47,500, which is higher than the county’s median household income.

During the past year, one abatement expired for Endocyte, a biopharmaceutical company in the Purdue Research Park. Another was voluntarily withdrawn as well.