Commission to Consider Global Investment Plans

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(Rendering courtesy of Infosys.) (Rendering courtesy of Infosys.)
INDIANAPOLIS -

The Metropolitan Development Commission of Marion County will Wednesday hear from two companies on major economic development proposals. The commission is slated to consider approving the sale of 140 acres where the Indianapolis International Airport once stood to India-based Infosys (NYSE: INFY) for its massive work, live, play campus. Additionally, Switzerland-based dormakaba will request tax abatement on plans involving 165 new jobs.

Infosys intends to initially invest $35 million at the site and plans could grow to $245 million and involve upwards of 3,000 jobs. dormakaba's plans submitted to the city include real and personal property abatement totaling nearly $18 million, which the manufacturer says would help retain 419 jobs.

Also Wednesday, the MDC will consider a preliminary tax abatement request from Illinois-based Midwest Nonwovens LLC, which is looking to invest $4.2 million to relocate its Indianapolis operations within the city. Plans call for the addition of eight employees and retention of 18, as well as a new thermal bonding line.

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