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Redevelopment commission approves sale and development deal for Usco Industries project, citing $25 million investment and up to 100 jobs
Summary
The Hammond Redevelopment Commission approved a development agreement and land sale for Usco Industries at 5009 Calman Avenue, supporting a 70,000-square-foot manufacturing facility with a reported $25 million investment and an estimated 50-to-100+ jobs over five years. The commission also signaled support for tax abatement incentives; final approvals by council remain required.
The Hammond Redevelopment Commission approved a development agreement and a purchase agreement for 5009 Calman Avenue that will allow Usco Industries and related entities to build a 70,000-square-foot overhead bridge crane manufacturing facility.
The commission voted, 4-0 with one member absent, to authorize the development agreement and the land sale for $681,187.50. The redevelopment staff described the project as a $25 million private investment that would employ about 50 people initially and grow to more than 100 over five years.
The approved development agreement contemplates incentives and financing: the commission indicated support for recommending to the city council a 10-year, 100% real and personal property tax abatement for the project, and the sale includes a financing structure described in the agreement as a 95% forgivable loan/mortgage. Under the financing described in the meeting record, 20% of the mortgage balance is forgiven each year over a five-year period provided the developer meets performance conditions in the agreement.
Commissioners discussed the project’s manufacturing focus during the presentation; the developer representatives and staff said the company engineers, fabricates and installs bridge cranes and related rails and that the facility would include an overhead crane and an assembly shop. The project was presented to the commission as redevelopment of a long-vacant industrial site and as bringing accessible, higher‑wage manufacturing jobs to the area.
The motions were made and seconded on the floor; roll-call votes recorded four yes votes and one absence. Final adoption of property tax abatements and any additional incentives would require separate action by the Hammond City Council.
Next steps: staff will proceed with closing the sale under the terms approved and coordinate any further council-level approvals needed for tax incentives and the forgivable-loan financing.
