STATEMENT OF BENEFITS

PERSONAL PROPERTY

State Form 51764 (R5 / 1-21)

Prescribed by the Department of Local Government Finance

FORM SB-1 / PP

PRIVACY NOTICE

Any information concerning the cost of the property and specific salaries paid to individual employees by the property owner is confidential per IC 6-1.1-12.1-5.1.

INSTRUCTIONS:

1. This statement must be submitted to the body designating the Economic Revitalization Area prior to the public hearing if the designating body requires information from the applicant in making its decision about whether to designate an Economic Revitalization Area. Otherwise this statement must be submitted to the designating body BEFORE a person installs the new manufacturing equipment and/or research and development equipment, and/or logistical distribution equipment and/or information technology equipment for which the person wishes to claim a deduction.
2. The statement of benefits form must be submitted to the designating body and the area designated an economic revitalization area before the installation of qualifying abatable equipment for which the person desires to claim a deduction.
3. To obtain a deduction, a person must file a certified deduction schedule with the person's personal property return on a certified deduction schedule (Form 103-ERA) with the township assessor of the township where the property is situated or with the county assessor if there is no township assessor for the township. The 103-ERA must be filed between January 1 and May 15 of the assessment year in which new manufacturing equipment and/or research and development equipment and/or logistical distribution equipment and/or information technology equipment is installed and fully functional, unless a filing extension has been obtained. A person who obtains a filing extension must file the form between January 1 and the extended due date of that year.
4. Property owners whose Statement of Benefits was approved, must submit Form CF-1/PP annually to show compliance with the Statement of Benefits (IC 6-1.1-12.1-5.6).
5. For a Form SB-1/PP that is approved after June 30, 2013, the designating body is required to establish an abatement schedule for each deduction allowed. For a Form SB-1/PP that is approved prior to July 1, 2013, the abatement schedule approved by the designating body remains in effect. (IC 6-1.1-12.1-17)

SECTION 1 TAXPAYER INFORMATION

Name of taxpayer Mid-West Metal Products Co., Inc.	Name of contact person Chad Smith
Address of taxpayer (number and street, city, state, and ZIP code) 3142 S. Cowan Rd, Muncie IN 47302	Telephone number (765) 289-3355

SECTION 2 LOCATION AND DESCRIPTION OF PROPOSED PROJECT

Name of designating body

Delaware County Council

Resolution number (s)

Location of property

2100 Mt. Pleasant Blvd, Muncie IN 47302

County

Delaware

DLGF taxing district number

18002

Description of manufacturing equipment and/or research and development equipment and/or logistical distribution equipment and/or information technology equipment. (Use additional sheets if necessary.)

1 - Amada Ensis 3015 AJE 12 KW Fiber Laseer

ESTIMATED
START DATE	COMPLETION DATE
Manufacturing Equipment	06/01/2026	08/01/2026
R & D Equipment
Logist Dist Equipment
IT Equipment

SECTION 3 ESTIMATE OF EMPLOYEES AND SALARIES AS RESULT OF PROPOSED PROJECT

Current Number

Salaries

$150,000

Number Retained

Salaries

$150,000

Number Additional

0-3

Salaries

$0-122,000

SECTION 4 ESTIMATED TOTAL COST AND VALUE OF PROPOSED PROJECT

NOTE: Pursuant to IC 6-1.1-12.1-5.1 (d) (2) the COST of the property is confidential.

	MANUFACTURING EQUIPMENT		R & D EQUIPMENT		LOGIST DIST EQUIPMENT		IT EQUIPMENT
	COST	ASSESSED VALUE	COST	ASSESSED VALUE	COST	ASSESSED VALUE	COST	ASSESSED VALUE
Current values	22,417,370	5,467,860
Plus estimated values of proposed project	1,451,000	1,451,000
Less values of any property being replaced	703,356	0
Net estimated values upon completion of project	23,165,014	6,918,860

SECTION 5 WASTE CONVERTED AND OTHER BENEFITS PROMISED BY THE TAXPAYER

Estimated solid waste converted (pounds) ___________________	Estimated hazardous waste converted (pounds) ___________________
Other benefits:

SECTION 6 TAXPAYER CERTIFICATION

I hereby certify that the representations in this statement are true.
Signature of authorized representative	Date signed (month, day, year) 5/7/2026
Printed name of authorized representative Chad Smith	Title CEO