Brownsburg EDC approves TIF-backed bond pledge for Project Falcon headquarters

The Brownsburg Economic Development Commission voted to adopt Resolution 2025-01 EDC on Oct. 16, approving the issuance of bonds supported by a pledge of tax-increment financing (TIF) revenue to help fund construction of a proposed Project Falcon headquarters in Brownsburg.

Project Falcon, described by Town Manager Deb Cook, is a life-sciences company that the town said has more than 60,000 employees worldwide and plans to build a 540,000-square-foot headquarters in Brownsburg. "They plan to invest $340,000,000 to construct the facility in addition to investing an estimated $995,000,000 in personal property," Cook said during the presentation. Cook said the company expects to relocate 1,776 existing jobs to Brownsburg and anticipates creating "over 300 new jobs in the coming years." She said retained jobs have an average wage of $40.71 per hour and the planned new jobs an average wage of $45.90 per hour.

The resolution approved by the commission authorizes use of TIF revenue from the project parcel to support debt service on bonds the developer will purchase. Cook said the town is not purchasing the bonds and "we are not on the hook for them." Under the arrangement described to the…