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Indianapolis begins process of recovering $380,000 in tax incentives from Rexnord

Posted at 11:03 PM, Dec 19, 2016

INDIANAPOLIS -- The Metropolitan Development Commission of Marion County has taken the first step toward recovering $380,000 in tax incentives from Rexnord.

A resolution that was introduced Monday claims that Rexnord's decision to move 350 jobs to Mexico puts the company out of compliance with a five-year property tax abatement and seeks to recoup the money saved over those five years.

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The resolution will go before the Metropolitan Development Commission for approval on Wednesday. 

Rexnord workers have been praying for a Christmas miracle ever since President-elect Donald Trump visited Indiana to announce a deal that will keep over 700 jobs at Carrier in the state rather than moving them to Monterrey, Mexico.

Rexnord released the details of severance packages earlier this month. They include eliminating health care for retired workers, a one-time payment of $500 and one week of pay for every two years of service. 

In October, RTV6 invited Rexnord employees to take part in a conversation on Facebook Live to discuss the job loss to other countries. You can watch that discussion below:

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