Council Approves Artisan Tool & Die Investment Incentive
The Delaware County Council unanimously approved a five-year tax phase-in (tax abatement) incentive on a $450,000 capital investment to Artisan Tool and Die, LLC. The company, located on State Road 28, started out in 1980 as a small machine shop designing and building some very precise injection molds. It has continued to grow over time and has turned into one of the most advanced heavy mold repair and modification facilities in the Midwest. The company repairs huge molds in excess of 100,000 pounds and is the only American-owned company with the credential to repair the most complex mold texture surfaces.
Chuck Vannatter, Vice President of Artisan stated, “The new equipment is a twin-head electrical discharge machine (EDM) that will burn a form into solid steel to create a part. It will be the only one of its kind in the Midwest. The investment will keep the company on the cutting edge of technology while providing our customers with the highest quality precision parts at competitive prices.”
The company will be adding one job while retaining all twenty-four existing jobs. Wages at the company range from $15 to $31 per hour depending on the skill level of the employee. The average wage is approximately $44,000 a year. Artisan will pay over $6,000 in additional taxes over the next five years as a result of the purchase of this machine.
Vannatter also noted the company is currently seeking three experienced mold makers for immediate employment.
The Muncie-Delaware County Economic Development Alliance assisted the company with the tax phase-in incentive program.