updated: 8/6/2013 4:02:02 PM

Hoosier Energy Sets Groundbreaking For Headquarters

InsideINdianaBusiness.com Report

Bloomington-based Hoosier Energy Rural Electric Cooperative Inc. is planning to begin construction on its new $27 million headquarters next week. The utility expects the project to be complete next year.

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Officials will mark the start of construction at 10 a.m. on August 13.

News Release

Originally Posted April 11, 2013

BLOOMINGTON, Ind. - The Hoosier Energy Board of Directors approved building a new headquarters at a 13.5- acre site on the south side of Bloomington at its March 28 meeting. The power supplier for 18 Indiana and Illinois electric cooperatives plans to invest about $27 million in the project that will retain Hoosier Energy's corporate offices in Monroe County.

The cooperative has been located on State Road 37 on the north side of Bloomington since the mid-1960's. The Board's decision followed a two-year evaluation process that included consideration of about 60 potential locations in a multi-county area.

Approximately 115 employees will work at the new 83,000-square-foot building that will be located on Tapp Road near State Highway 37. The City of Bloomington recently approved a 10-year tax abatement and vacating a street at the site to support the project.

Construction is expected to begin this summer following contractor selection and other steps with building completion expected in late 2014.

"Hoosier Energy has a long and successful history in the community and we're very pleased that we will continue to be part of Bloomington. The new facility will allow us to locate all employees at a single location, operate more efficiently, and meet our needs for many years to come," said Hoosier Energy Chief Executive Officer Steve Smith. "We appreciate the great support we've received from the City of Bloomington and the Bloomington Economic Development Corporation throughout this process."

"This is the outcome we had hoped for," said Mayor Mark Kruzan. "With the support of the City's Economic Development Commission and the City Council, Bloomington is able to retain these quality jobs and Hoosier Energy's corporate headquarters – and a sustainably built headquarters at that."

The new building is an energy efficient design that will be constructed to Leadership in Energy and Environmental Design (LEED) specifications.

Two Hoosier Energy member cooperatives, Martinsville-based South Central Indiana REMC and Bloomfield-based Utilities District of Western Indiana REMC, serve consumers in Monroe County.

Hoosier Energy is also constructing a $25 million power delivery operations center in Owen County.

Source: Hoosier Energy Rural Electric Cooperative Inc.

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