Software Company Expands to Yorktown
MUNCIE -- A fast-growing Muncie software manufacturing is moving to Yorktown and
building a new $2 million facility at Ind. 332 and County Road 500-W.
"This sounds like a very exciting opportunity," said Steve Lowry,
vice president of the Yorktown Town Council.
AccuTech Systems Corp. -- a trust and investment management
accounting software provider -- has outgrown its office at 4017 W.
Jackson St. and plans to expand on a nine-acre site south of Gill
Brothers Furniture along County Road 500-W.
Ray Unger, the company's president and co-founder, spun off the trust
and investment management software business 19 years ago after working
for Ontario Systems. The firm has about 35 employees and a yearly
payroll of under $2 million.
"You don't hear a lot about them, but they are a solid company and
are adding about 25 more jobs," said Terry Murphy, vice president of
economic development for the Muncie-Delaware County Chamber
of Commerce.
Unger, along with Murphy, approached Yorktown Town Council on Monday
about granting property tax abatement for what would be the biggest
development venture seen in the town in recent years, according to Tim
Kelty, town manager.
Along with investing $2 million in a new two-story,
15,000-square-foot office building, AccuTech also will invest another
$547,530 in new equipment. A master plan by the firm shows two other
nearby office buildings in the future, along with a park and walking
trail for employees near Ashford
Lakes subdivision.
Unger said he chose Yorktown over Muncie
to expand because he wanted to create a park environment and needed
room to expand. Property taxes also played into the decision, Unger
said. Yorktown's tax rate is half of Muncie's
rate.
And the tax abatement on the $2 million building would amount to
$120,182 over 10 years while abatement on equipment would be $18,440.
The company would still pay more than $55,000 in property taxes during
the term of the abatements.
The council on Monday approved an economic revitalization area to
grant the abatement, subject to a public hearing and final action next
month.
Unger wants to begin construction in March, and have the new facility
open by fall. Scherrer Construction is the general contractor on the
project.
Lowry lauded Murphy's efforts to bring the software company to Yorktown,
along with the new jobs that pay $14 to $26 an hour.
Murphy is not just looking at Muncie
or Yorktown, but to all of Delaware
County to create new jobs,
Lowry said.
"I think this shows that software companies can grow and prosper in
East Central Indiana," Murphy said, because of a great workforce
supplied by Ball State
University, Anderson
University and other
institutions.
Kelty said he hoped the expanding software firm also would help grow a
professional office park and a possible tax-increment-financing
district at Ind. 332 and County Road
600-W.
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About the Muncie-Delaware County Economic Development Alliance:
Vision 2011 is the Delaware County's five year economic development program and is administered by the Muncie-Delaware County Chamber of Commerce and Delaware Advancement Corporation. For more information about the EDC, visit www.muncie.com.