POET secured 100% tax abatement for a decade as part of Indiana deal

In Indiana, local press reports that POET has scored a 100% tax abatement for its planned Shelbyville plant for ten years and then will pay just $2.5 million a year after that as part of the agreement that sealed the deal for citing the facility in the town rather than another location in Ohio that was under consideration. Though the city’s mayor said it never offers 100% “of anything,” it chose to offer the abatement plan because it wouldn’t require the city to outlay any cash but make a better offer than Ohio.