Noting that the city does not grant many tax abatements, Nappanee Mayor Larry Thompson, addressing Cavco officials, acknowledged the Shea family that had owned Fairmont “would not have entered into this if they didn’t think you were going to continue (operations) and make it better. Fairmont has meant a lot to us.”
The proposed abatement would include $850,000 for manufacturing equipment for five years beginning July 1, and $80,000 for information technology that would be in effect from July 1 to Dec. 31 of this year, according to goshennews.
Steven Like, a senior vice president with Cavco, presented an overview of the company, stating Cavco was founded in 1965, has 3,800 employees, $560 million in revenue, and that they are number 13 on the Forbes best small businesses list. Like said Cavco also acquired a division of Fairmont, Friendship Homes in Minnesota, that the 550 employees of both operations will retain their jobs, and the brand names of the manufactured homes will continue to be used.
“We take our responsibilities to our constituencies seriously and we intend to have a long-term partnership with the city of Nappanee,” Like stated.
City council will have to hold a public hearing on the proposal before making a final determination. ##
(Image credit: Fairmont Homes)
