COLUMBUS, Ind. – The Columbus City Council on Tuesday unanimously approved a property tax abatement for Rightway Fasteners, so that it can acquire new equipment that will add nine production jobs to its operations.
The equipment to be purchased includes four cold-forging machines, two thread rolling machines, a heat-treating furnace, and a coating machine. The total purchase will cost the company $13 million.
Rightway Fasteners Inc. currently has 11 active tax abatements granted by the city. The company has almost doubled employment over the last ten years.
The automotive industry is the company’s main customer sector for its specialty fasteners.