In August 2000, the city approved a tax break of $308,000 for six years for the facility that the company planned to use for its North American headquarters. The company currently has its local headquarters in Troy, a few miles south.
The building was to be developed at the 68-acre Pinnacle Corporate Park. The city is one of the hottest markets in the state for automotive technology companies, becoming the corporate tech center for high-profile companies like Daimler-Chrysler, Volkswagon and Continental Tire.
However, City Assessor Victor Bennett said no ground has been broken on the facility estimated to cost $30.7 million. "To date I have received no communication from the company. I do not believe a site plan was ever submitted," Bennett said.Attempts to get a comment from the company by GlobeSt.com were unsuccessful. If the city revokes the abatement, the State Tax Commission will hold a hearing and notify Inergy, which will be given an opportunity to protest the revocation, Bennett said.
The company was founded in 2000 through a joint venture of the French company Plastic Omnium and Solvay SA, the Belgian chemical company. Each company holds 50% of Inergy Automotive Systems. Inergy is headquartered in Paris and employs over 4,000 people and has 27 facilities in 17 countries around the world.
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