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Brownsburg council adopts ordinance to back Project Falcon with taxable development bonds
Summary
The Town of Brownsburg adopted Ordinance 2025-19 to authorize taxable economic development revenue bonds for 'Project Falcon,' a confidential life-sciences investment the town says will bring a combined $435 million capital investment, relocate more than 1,700 jobs and create 300+ new positions; council also approved a 10-year personal-property tax abatement tied to $95 million of personal property investment.
Brownsburg’s Town Council voted unanimously on Nov. 20 to adopt Ordinance 2025-19, authorizing the town to issue taxable economic development revenue bonds to support a confidential project dubbed "Project Falcon." Economic development staff told the council the project is a life-sciences company planning a roughly 540,000-square-foot facility and will be financed with bonds purchased by the company and repaid using tax-increment-financing revenue tied to the project.
The council’s action follows prior approvals by the town’s Economic Development Commission and Redevelopment Commission; staff recapped estimated project figures at the meeting: about $340 million in real property investment and about $95 million in personal property investment, for a combined capital investment of roughly $435 million. Officials said the company expects to relocate more than 1,700 existing jobs to Brownsburg and create more than 300 new jobs. Staff reported average hourly wages for retained jobs above $40 and average wages for the planned new jobs above $45.
In a separate but related vote the council approved Resolution 2025-21C, a public-hearing-confirmed action granting a 10-year personal-property tax abatement for the $95 million personal-property investment; staff estimated that the abatement will allow roughly $1.8 million in personal-property tax revenue to flow to the town during the abatement period. Supporters in the public hearing urged the council to approve the measures, calling the project a significant economic opportunity for the town.
Council members asked procedural and timing questions but made no changes to the ordinance on final reading. Councilors moved and seconded the motions to adopt the ordinance and to approve the abatement resolution; both measures passed by voice vote during the Nov. 20 meeting.
Project representatives requested confidentiality while the company informs employees; council staff said the town will disclose the company’s identity after the company notifies its workforce. The council’s packet shows the approvals on the town’s EDC and RDC agendas and indicates the item was on earlier meeting dockets for first reading.
The measures approved are administrative and financial in nature and, according to staff, do not change the town’s tax rate because the bonds are taxable and will be purchased by the company, which assumes the financial risk. The council’s actions mark the final local approvals the town described at the meeting; staff said next steps include documentation and administrative steps to finalize bond issuance and abatement paperwork.
