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A few passing clouds. Low 63F. Winds light and variable..

A few passing clouds. Low 63F. Winds light and variable.

PRINCETON — Founded in 1921 as a machine shop to service the old King’s Mine, Highway Machine Company on Princeton’s south side has found another niche in precision machining.

Attorney Jerry Stilwell told Gibson County Council members Tuesday that the company wants to invest nearly $5 million in precision equipment to fulfill U.S. military contracts, and seeks a property tax abatement for the investment.

“They have made parts that a lot of people don’t realize,” Stilwell said. “They’ve built aircraft carrier parts, parts for nuclear submarines and army tanks and Chinook helicopters. There aren’t many companies in North America that can do what Highway Machine does,” he said. “There are only two companies in America that can make gears the size of theirs.”

Stilwell said the company still makes parts for mining operations as far as Australia, Colombia and South Africa.

The company’s first property tax abatement was granted in 2007 when HMC had 35 employees, he told the council. Throughout the pandemic, no layoffs occurred and the company employs 70 people today. Stilwell said the new machine won’t create a lot of new jobs but it will enable the company to continue to fulfill contracts that require extreme precision.

He said HMC anticipates two or three additional employees would be hired. The company works three shifts at the plant now.

HMC’s annual payroll is $4 million and the company will pay $195,000 in property taxes and more than $140,000 in personal property taxes this year, he confirmed.

The company is asking for a 10-year abatement of taxes at 100%.

Stilwell said the machine is being made in Austria and HMC needs the abatement in place before the company takes delivery for the equipment.

County Council Vice President Craig Pflug suggested the request be taken under advisement and a decision be made at the Oct. 11 county council meeting.

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