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Committee approves statement of benefits for Kimball Electronics expansion in South Post Road TIF
Summary
The committee approved a statement of benefits enabling Kimball Electronics to seek a six-year personal property tax abatement for a project at 1220 South Post Road; the final abatement will be decided by the Metropolitan Development Commission.
The Metropolitan and Economic Development Committee on Monday approved a statement of benefits so Kimball Electronics can pursue a six-year personal property tax abatement for a manufacturing expansion at 1220 South Post Road.
Kathy Battle, program manager for economic incentives with the Department of Metropolitan Development, introduced the item (Proposal 145). Kimball representatives said the project — located within the South Post Road TIF allocation area and supported by District 20 Councilor Michael Paul Hart — would support significant investment and expanded medical-manufacturing capacity in Indianapolis.
Doug Haas, chief legal and administrative officer for Kimball Electronics, told the committee the company plans an investment to expand production of medical devices and related products. Presentation slides provided to the committee described both a $34.1 million investment figure and, later in the discussion, a $56 million-plus multi-year investment; the company said most spending would occur in the first year of the six-year window and that the package is intended to allow the company to consolidate operations under a single, larger facility.
The materials the company provided show the project will create skilled positions such as machine operators and engineers and that about 46 percent of the company’s workforce comes from Marion County. Haas said permitting and interior construction were expected to begin soon, with the majority of site work completed in November and manufacturing beginning the following March.
Councilors asked about alternative locations the company considered and how many employees live outside Marion County; Haas said Kimball evaluated “donut” counties including Hancock and Jasper and decided the Post Road site best fit its facility size and clear-height needs. Committee members also asked about process: Kathy Battle said tonight’s committee approval covers only the statement of benefits; the final tax abatement will be decided by the Metropolitan Development Commission.
The committee approved the statement of benefits by voice vote and the item will move forward to the Metropolitan Development Commission for final consideration.
