Sweetwater Sound is seeking more than $13 million in tax savings on the planned 1,000-job expansion of its 163-acre campus just west of town. The application for a 10-year abatement, to be considered by City Council Tuesday, also sheds new light on the project announced last month — including the fact that the music company’s investment could be worth millions more than previously indicated.

Sweetwater plans to erect a new 350,000-square-foot warehouse, a 1,000-person conference center, remodel an existing warehouse and make other improvements at 5501 U.S. 30W. The cost of the expansion was originally set at $76 million, but the company’s abatement application places the value at slightly more than $83 million. The 1,009 full-time jobs to be created will pay an average of $55,441 per year for a total additional annual payroll of nearly $56 million. The company currently has 1,003 employees.

Abatements temporarily reduce taxes paid on new buildings and equipment, and if council approves Sweetwater’s application the company will save $947,684 in equipment taxes over 10 years and $12.5 million in real estate taxes over the same period. At the same time Sweetwater would pay $772,087 in equipment taxes and nearly $15 million in real estate taxes.

Sweetwater’s annual sales have swelled from $481.4 million in 2015 to nearly $617.7 million last year, and according to the application its current facility “has become too small to fit the company’s continued and expected growth . . . Its growth is dependent upon the expansion of its current facility.” Construction is expected to conclude next summer.

Because some of the company’s property lies outside the city limits, Fort Wayne and Allen County governments will cooperate on the abatements.

Sweetwater is a major retailer of music instruments and audio gear, serving musicians, recording studios, broadcast, education, and houses of worship nationwide. This is the company’s third major expansion in recent years, announcing plans in 2012 to invest $23.5 million to add 110,000 square feet at its headquarters and plans in 2015 to invest $8.8 million to add an in-house marketing department and state-of-the-art video studio.

In addition to the local incentives, the Indiana Economic Development Corporation offered Sweetwater up to $8.8 million in conditional tax credits and up to $200,000 in training grants based on the company’s job creation plans. These incentives are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim the incentives. Northeast Indiana Works will provide the company with additional hiring and training assistance.