Lafayette approved tax breaks for Caterpillar’s proposed $890 million engine-plant overhaul

Lafayette’s Common Council approved two 10-year property tax abatements in September for Caterpillar’s proposed $890 million modernization of its Large Engine Center on South Street. The proposal covers manufacturing equipment and improvements to the existing facility.

The Indiana Manufacturers Association’s account of the company’s filing says the equipment portion would cost $540 million. The proposal focuses on retaining the plant’s existing workforce, with zero new positions projected from this round of investment.

What remains unverified

The city votes establish approval of the abatements. BusinessIndy has yet to verify Caterpillar’s final spending commitment, how much it has spent on the latest proposal, or when that work will begin.

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