Companies Planning Growth in Indianapolis

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INDIANAPOLIS -

Five companies have announced plans for a combined $31 million in growth in Indianapolis. The projects range from a housing and retail development to a major dairy facility expansion.

All will go before the Metropolitan Development Commission Wednesday for preliminary tax abatement approval.

ConAgra Foods Inc. (NYSE: CAG) says its proposed $16 million investment could position the margarine and whipped topping production operation as a "leading facility" of its kind within the global company. The plan would retain more than 350 jobs and create 20 by next year. ConAgra says the equipment upgrades and production boost could "increase the likelihood of future investment in the facility."

Indianapolis-based Hurco Companies Inc. (Nasdaq: HURC) wants to retain 136 workers and add almost three dozen by 2017 with its $2.6 million investment. Plans to the city call for relocating motorized spindle manufacturing operations from an Italian plant to the company headquarters. Hurco says it would be the first manufacturing operation in the U.S. in "many years."

New Carlisle-based Just Packaging Inc. says it has outgrown its Indianapolis corrugated packaging manufacturing and distribution center and it needs to relocate 20 current employees to a larger facility. The $800,000 investment could lead to 25 new jobs by 2017.

TCT Four LLC plans to build a five-story mixed-use development on the site of a former parking lot. "Forte" will include more than 60 apartment units, retail space and involve a nearly $8 million investment. If complete, the project is expected to create a small number of full time jobs.

Indianapolis-based Republic Airways Holdings Inc. (Nasdaq: RJET) wants to pump nearly $4 million into a new training center near Indianapolis International Airport.

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