Commission Gives Preliminary OK to Expansions
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowThe Metropolitan Development Commission in Indianapolis has approved preliminary tax abatement requests for four companies’ expansion proposals. The projects, which represent total investments of nearly $90 million, call for the creation of 110 jobs.
The projects would also retain over 340 positions. The investments from Litho Press Inc., Merchandise Warehouse Co. Inc. and Alexandria Extrusion MidAmerica LLC will be considered for final approval by the commission November 18. A planned $65 million investment from Eli Lilly and Co. (NYSE: LLY) must face the full City-County Council first and no date has been set yet for that appearance.
Snapshot of the proposals:
Lilly
- Total Investment: $65 million
- Purpose: multi-disciplinary laboratory expanding R&D capabilities
- Jobs Retained: 165
- Timeline: Two years
Merchandise Warehouse
- Total Investment: $11.5 million
- Purpose: modernize and improve loading and storage facilities
- Jobs Retained: 69
- Jobs Created: 65
- Timeline: by 2020
Alexandria Extrusion MidAmerica
- Total Investment: $7 million
- Purpose: add equipment and expand production capabilities
- Jobs Retained: 60
- Jobs Created: 30
- Timeline: by 2018
Litho Press
- Total Investment: $4 million
- Purpose: new printing technology, which will streamline production
- Jobs Retained: Nearly 40
- Jobs Created: 15
- Timeline: by 2020