Tax abatement may also be granted for new manufacturing equipment for a period of 5 or 10 years provided the new manufacturing equipment:
(A) Is used in the direct production, manufacturing, fabrication, assembly, processing, refining, or finishing of other tangible personal property;
(B) Was acquired by its owner for the use described under division (B) above and was never before used by its owner; and
(C) Is installed in an economic revitalization area.
(Prior Code, § 115.02) (Ord. 4-95, passed 2-13-1995)