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Plasmatronics wants out of Crown Point

Mitch Daniels cannot be happy with this story in the Post Tribune of Northwest Indiana this morning:

Plasmatronics, the plasma ignition system company promising 220 local jobs and touted by Gov. Mitch Daniels at a news conference last year, wants out of Crown Point.

In a five-page letter to the city's Redevelopment Commission and Development Corp., Plasmatronics' attorney Barry W. Pruett sought to terminate the July 12 loan agreement between Plasmatronics and the Crown Point Development Corp.

"We want to start to negotiate to terminate the loan agreement amicably," Pruett said Friday.

The reasons are many, Pruett said, including that the company's name has been irreparably damaged and that it was used as a political football during elections under the Klein administration.

The development corporation also changed the terms of the agreement, as well as violated the state's Open Door Law when it voted to approve the loan in a closed meeting.

In the letter, Plasmatronics also argues that the city forced the company to repeat testing of its plasma ignition system, resulting in unnecessary cost and loss of time.

Daniels was really excited about this deal last year:

Governor Mitch Daniels announced that Plasmatronics, LLC, a national leader in performance ignition systems, has chosen to locate its new manufacturing and research center here, creating more than 220 jobs and $2.1 million in capital investment to the state.

The company will manufacture its new Plasma Drive Ignition systems for automobiles, trucks, motorcycles, scientific and industrial applications at an existing 9,000 square-foot facility in Crown Point.

"Plasmatronics heard our message that Northwest Indiana is a great location to grow its business, and that these are the kind of jobs - high-paying and high value-added - that Indiana is out to host. Here's more proof that Northwest Indiana can compete for the best jobs of tomorrow," said Governor Mitch Daniels.

From the story today:

Daniels had touted the company at a news conference last year and the Indiana Economic Development Corp. offered $1.8 million in incentives.

Jane Jankowski, spokeswoman for Daniels' office, had no comment.

Posted by: Charlotte (long time reader, first time poster)


"but does'nt it look like the locals should be thrown under the bus?"

I'd say they should be the first to go. They voted on approving the loan behind closed doors? Local economic interests are often so eager to attract a new business, they don't really check the bona fides for fear of having the deal evaporate.

The Gov then had to rely on assurances from the local yucks that the Plasma Ignition System was real.

but does'nt it look like the locals should be thrown under the bus?

Your links don't work, 5:37. Generally you need to go to www.tinyurl.com to shrink them.

This story give Plasmatronics a pass. Consider the past reporting.



I think you mean long-time reader and first-time poster.

There is no evidence that the Plasma Ignition System works.

Who vetted this deal?

Just so everyone reading this understands, "Plasma Ignition System" is a synonym for "fraud". Buyer beware.

As is his M.O., Daniels will throw the locals under the bus on this one.

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