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Indianapolis's Thomson Consumer Electronics to Forfeit Future Tax Abatement.(Originated from The Indianapolis Star and News)
May 6--Thomson Consumer Electronics agreed Monday to forfeit future tax abatements worth more than $260,000 at its Bloomington television plant, scheduled to close next April.
Indianapolis-based Thomson, which is moving television assembly Mexico and cutting 1,100 Bloomington jobs, likely would have faced revocation of the inventory, property, and other tax breaks.
"We didn't want to have to do that. It's a waste of time and energy," said Bloomington's mayor, John Fernandez.
The mayor commended Thomson and said corporations need to be held accountable when they are unable to meet their obligations.
"We're hopeful this ...
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