German American Bank Inc. Approved for Expansion
Inside Indiana Business reported that German American Bancorp Inc., headquartered in Jasper, unveiled plans for a $6 million operations center on the south side of the Dubois County city. Bingham Greenebaum Doll LLP attorneys Eric Schue and Bill Kaiser will be proving counsel during this expansion.
German American is a prominent financial services provider in southern Indiana, specializing in banking, insurance, investments and wealth management for business and retail customers. The Dubois County Free Press reports the 40,000 square-foot facility would initially create a small number of jobs.
If the expansion is approved, the operations center will primarily house nearly 100 employees who will move there, and it will also create four additional jobs.
The bank says the facility will help alleviate crowding at its current facilities on Main Street in Jasper. If approved, the operations center will initially house nearly 100 employees who will move there, plus create four additional jobs. German American's executive team will remain in the Main Street offices.
The Jasper Economic Development Commission is recommending a nine-year tax reduction for the proposed project. The Jasper Common Council is set to consider the recommendation at its meeting Wednesday.
UPDATE 8.15.17 – German American was awarded a nine-year tax abatement, with full abatement for the first six years, a 75 percent abatement in year seven, 50 percent in year eight and 25 percent in year nine.