A Putnam County industry is planning for the future with tax abatement approval.

Metal Forming, of Russellville, specializes in cold forming, deep impact extrusion and precision machining.  The company's website states that they incorporate cost-effective process design and contract precision manufacturing to produce customer specified components and assemblies that are used in a wide variety of global industrial applications. 

Metal Forming representatives appeared before the Putnam County Council Tuesday night following a previous appearance at the last council meeting.  The request before the council was to declare an Economic Revitalization Area and 10-year tax abatement on new equipment being installed in December.  The abatement for the equipment cost of $270, 000.

25 employees work at Metal Forming.  23 live in Putnam County.  The other two live in Montgomery and Boone County. 

Two employees are expected to be added with the new equipment.

Metal Forming has also received a Manufacturing Readiness grant from the state of Indiana.

President and CEO Ron St. Clair has owned the facility for 10 years. He says future growth is expected for the Russellville industry with intent to make sure it stays local.

Over the life of the abatement property tax payments saved only add up to about $9,000 for Metal Forming.

The resolution was approved by the Putnam County Council by unanimous vote.