A Columbus company is planning a multi-million dollar upgrade project at its plant on Arcadia Drive, as a way of drumming up new business, keeping its employees and growing the company.
PMG Indiana asked the Columbus City Council this week for a tax break on its proposed $4.7 million dollar investment in new equipment at their plant. The project would only add two jobs but would help the company retain 223 existing jobs, company officials said.
In paperwork filed with the city, PMG officials said that the company is in the ending life cycle of several parts it produces, plus one of its major customers lost business to a competitor. Without the upgrades, the company expects to see a loss of sales.
Because of the slide in business, the company still plans to reduce its staffing until the improvements are made, by cutting 20 positions temporarily. Without the improvements, the company estimated it would have to cut 50 positions.
Columbus City Council approved the tax abatement request.