Employer Could Make Major Valpo InvestmentPosted: Updated:
More details could come as early as next week on an unidentified company's $200 million plan to locate in Valparaiso. The city council approved a bond measure Monday that could offset some expenses for the business. If approvals are met, the company would also seek annexation of some land outside of city limits to accommodate the operation.
Company executives are set to meet September 17 with city officials and will reveal details of the proposal during a 1 p.m. press conference.
The city council will review a tax-exempt bond ordinance in two weeks and a decision on the next steps will be discussed.
The city would not have to pay back the bonds, it would act as the "conduit" for bond issuance.
Source: Valparaiso Redevelopment Commission