The Richmond, Indiana, Common Council has reportedly approved three tax abatement measures designed to smooth the way for a scrap-fed aluminum billet production facility in that east-central Indiana city.
An online news item by the Richmond Palladium-Item says the abatements were unanimously approved concerning the billet making facility proposed by Element 13 LLC. The same news item quotes Mike Rasmussen, co-owner of Pendleton, Indiana-based Newco Metals Inc., as a spokesperson for Element 13.
The Element 13 facility will reportedly consist of a 50,000-to-60,000-square-foot plant on a 15-acre site that will melt scrap to make billets. Some 30 people will reportedly staff the plant, with the billets heading into the extrusion market.
At least one additional step, involving an economic development council’s approval of Element 13’s purchase of land in an industrial park, has been scheduled for later in May.
Rasmussen tells the Palladium-Item his company is “really excited about Richmond; it’s just a great opportunity and a win-win for everyone.”
In 2019, Newco reportedly tried to site a melt shop in Ingalls, Indiana, which is about 60 miles west of Richmond.
That project ran into “not in my back yard” (NIMBY) opposition that has not been replicated thus far in Richmond.
In addition to the proposed Element 13 plant in Richmond, Newco has scrap processing facilities in Pendleton and Anderson, Indiana.