A company that moved to Greenwood less than five years ago is planning to expand, again, and is asking the city for another tax break.
Poynter Sheet Metal requested a 10-year $595,322 tax break from the city to add more than 50,000 square feet to its 110,000-square-foot facility, and buy new equipment, city documents said. The company will still pay more than $1 million in taxes during that time.
Poynter, Indiana’s largest full-service sheet metal contractor and fabricator, produces duct work and structural steel and installs its own work. This expansion would allow the company to add a department, which will focus on producing bathroom modules for hospital, hotel and mixed-use residential facilities, as well as healthcare head walls, according to the tax abatement application.
The company says the expansion would be a $4.25 million investment.
With the expansion, the company plans to hire 40 more employees in the next two years with an average salary of about $48,000, including benefits. Poynter currently has 128 employees, most of which are union members.
In 2014, Poynter hired an additional 25 people to work at its manufacturing building off Graham Road, which is mostly warehouse space with some offices. At that time, the city approved an $838,000 tax break, and the company invested about $7.4 million in the property and equipment.
Poynter outgrew its Bloomington plant and moved about 70 of its employees to Greenwood. The location in Greenwood was appealing because of its easy access to nearby interstates. The company was out of space, and Bloomington didn’t have much flat land for expanding, company officials said at the time.
Locally, the company has served as ventilation contractor for projects at Franklin and Center Grove schools, Central Nine Career Center and Franciscan St. Francis Health.
Construction on the expansion is expected to begin in July and wrap up by June 2020. The city’s redevelopment commission approved the tax break unanimously Tuesday. The request will now go to the city council for final approval.
