Algaeon Seeking Breaks to Expand

Indianapolis-based Algaeon Inc. is seeking preliminary tax abatement approval on a nearly $5 million expansion plan. The company, which produces nutritional ingredients from algae, wants to add 25 workers by 2018. The investment would also retain 12 current employees.

If approved, the proposal would head to a public hearing and go before the commission for final consideration November 19.

In May, the company secured a $2.75 million investment and unveiled a strategic partnership with Heartland Growers in Westfield. That deal involves greenhouse space and infrastructure.

Source: The Department of Metropolitan Development