Boone County approves SB-1 statement so Whitestown can pursue tax abatement for Ray Zebo Inc. expansion

Boone County commissioners on June 1 approved the statement of benefits (SB-1) required under Indiana law so the town of Whitestown can continue its local process to designate an economic revitalization area and consider a tax abatement for Ray Zebo Inc.'s proposed expansion.

A presenter for Ray Zebo Inc. described the project as a major life-sciences expansion that would develop land in Whitestown and manufacture radiopharmaceutical therapies. The presenter said the project is expected to bring $133.8 million in private investment — roughly $73.8 million in real property improvements and $61 million in equipment and personal property — and to create about 31 new jobs with an average annual wage above $137,000, exclusive of benefits. The presenter told the board the county is not being asked to provide any additional incentives or financial support; the requested action was limited to approving the SB-1 because the parcel lies in the county's allocation area.

The presenter summarized projected returns to the town, saying the town expects about $1.71 in return for every $1 of incentive over a 15-year lifespan. Commissioners moved and seconded approval of the SB-1 statement and the board recorded the approval.

Why it matters: Approval of the SB-1 by the county is a required procedural step so the municipal incentive process can proceed in Whitestown; it does not itself grant a county tax abatement or change county finances according to the presenter.

What’s next: Whitestown will continue its local incentive review and any abatement or incentives would be finalized at the town level following its public processes.