City Approves Sony Tax Breaks
The Terre Haute City Council has approved a 10-year property tax abatement for Sony DADC. The company plans to invest $72 million into its plant there and possibly create 100 jobs. Most of the investment money will go toward manufacturing Blu-ray discs.Our partners at WTHI-TV report under the abatement unanimously approved by the council, Sony will have their property taxes phased in over 10 years.
In addition to the possibility of new jobs, the company says the abatement and investment will help them secure the more than 1,300 workers already at the plant.
Sony makes equipment for Blu-rays, video games and other electronics at the Terre Haute facility.
Source: Terre Haute City Council, WTHI-TV