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Vanderburgh County preliminarily approves tax phase‑ins for Polyram expansion and Poet Square apartments
Summary
The county council unanimously approved preliminary tax phase‑in resolutions for SEZ/Polyram's $12.1M expansion and an $11M, 78‑unit Poet Square Apartments project, citing urgency to secure REDI/ARPA funding and regional investment. Developers stressed tight timelines to meet state and federal deadlines.
Vanderburgh County Council on Feb. 4 voted unanimously to adopt preliminary economic revitalization area resolutions for SEZ Holdings/Polyram USA and Poet Square Apartments LLC, clearing a key procedural step that lets both projects pursue local tax phase‑ins tied to state and federal incentives.
The Polyram application described a roughly $12.1 million investment — including a new 100,000‑square‑foot warehouse and about $3.1 million in manufacturing equipment — that the county’s economic-development contractor said would add about 29 new positions at the Evansville operation and strengthen the county’s foothold in advanced plastics manufacturing. Pat Hickey of the Evansville Regional Economic Partnership (EREP) recommended approval at the preliminary stage, noting the application requests a waiver because construction began before a formal ERA filing. “Is it ideal? No. Is it understandable? Yes,” Hickey told council members, arguing the project supports high‑wage, export‑oriented jobs.
Council members praised the company’s local growth. Evan Beck, the facility developer, told the council Polyram had expanded from one extrusion line in 2017 to multiple production lines and that recent global events redirected work to Evansville, accelerating the expansion.
On Poet Square, Hickey and the developer’s counsel, Krista Lockyer, said the $11 million, 78‑unit project in northern Vanderburgh County relies on $1.4 million in REDI (ARPA) dollars and $250,000 in riverboat funds. Lockyer said the developer has an aggressive schedule to secure a certificate of occupancy by Dec. 31; missing that deadline could subject the REDI funds to clawback. To help the project proceed, the developer agreed to a condensed abatement schedule (graduated 25%, 50%, then 100% over the first three years) to preserve local tax receipts while making the project viable.
Supporters said moving quickly preserves a regional track record with REDI and protects future competitiveness for state funding. The council approved both preliminary resolutions without recorded opposition. The council also discussed setting a special meeting later in February to meet statutory notice and remonstration requirements for final tax‑phase hearings.
What’s next: Preliminary approval allows organizers to proceed with public notice and the formal tax phase‑in process; final council action will follow the required public‑notice period and any remonstration.
