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SIA tax abatements receive initial approval

The Lafayette Redevelopment Commission has unanimously approved tax abatements for Subaru of Indiana Automotive.

The tax breaks are the first step in the automakers’ planned $422-million investment to build a new model in Lafayette.

The commission’s vote sends the issue to the Lafayette City Council Monday for consideration.

SIA plans to start making the Subaru Impreza at its Lafayette plant in 2017.

The company is seeking ten-year tax abatements on $353-million in manufacturing equipment, $1-million in IT equipment, and $68-million in real estate improvements.