Delaware County IN invests in big industrial building to create jobs
South Muncie target for latest industrial growth
By Rick Yencer
MUNCIE, INDIANA (NEWS) - An $8 million investment in a building to create more jobs in south Muncie is the latest venture by the Delaware County Economic Development Alliance.
And that if you build it, they will come approach has already filled six buildings during the last 20 years and has two more in Muncie and Daleville waiting to be filled.
Delaware County Commissioners signed off on financing and construction of the 200,000 square foot building at Fuson and Cowan roads on Monday that would be perfect for auto parts maunufacturing like its neighbor, Magna PowerTrain.
Terry Murphy, vice president of economic development for the alliance, explained the state had a shortage of larger buildings like one proposed in south Muncie, and the higher ceiling at 32 feet could handle manufacturing, logistics or warehousing all in demand for Midwest business and industry.
The building has enough land that it can expand to 500,000 square feet and it will benefit from a new electric substation built in the Industria Centre by Indiana Michigan Power. And the county will build a bridge over a creek to provide access.
The commissioners authorized $100,000 for engineering plans for Garmong of Terre Haute to construct the building. US Architects, Yorktown, is doing the design, and Garmong has built other industrial buildings for the alliance.
Murphy assured commissioners that local contractors and suppliers would be used to create local jobs during construction that will start this year.
A survey by the Indiana Economic Development Corp. found employers look for a ready to occupy building about 61 percent of the time and then a specific region about 70 percent of the time.
Delaware County is still paying leases on the empty industrial buildings in Daleville and Muncie at the Airpark Industrial Park. Officials are on the hook for about $400,000 a year for the latest building paid out of local income and property tax money dedicated for economic development.
Commissioner Larry Bledsoe. who faces re-election in 2014, said he was great to see the county moving forward and providing another buulding ready site for manufacturers and other business. He faces Republican Shannon Henry, who is Albany town marshall.
Magna gave the land to the county and could be a partner in future business that locates there. Murphy disclosed no company that now wants the building or others in the alliance's inventory.
The alliance has been successful in other building projects, including one that brought student financial loan giant Sallie Mae to the community. Sallie Mae in the Airpark site on Riggin Road is Muncie's largest private employer.
Local government also create a new tax increment financing district for south Muncie to encourage a new assisted living community to locate there, TIF that puts property taxes on new development back into the development like for utilities and infrastructure also will be used for the latest project.