The Noblesville Common Council has paved the way for tax incentives for two major development and expansion projects. The council Tuesday approved a preliminary resolution to designate economic revitalization areas for the projects, which could result in a total of more than 70 new jobs.
The first project is a $23 million senior housing development which will be located in the Noblesville Business Park. Noblesville Assisted Living Group LLC says the four-story, 105,000 square-foot facility will include 124 units and will create 56 full-time jobs.
Construction on the project is expected to begin this summer and be complete by summer 2018. If approved by the council, Noblesville Assisted Living Group will save an estimated $1 million in taxes over four years.
The city says Universal Blower Pac Inc. is also looking to expand operations in Noblesville with a new, nearly 9,000 square-foot warehousing and distribution space. The company plans to invest $1.1 million for the expansion, which will allow for the creation of 16 jobs and the retention of 31 employees with an average salary of $75,000.
The company is seeking a five-year, $71,000 real property tax abatement as well as a two-year, $5,400 personal property tax abatement. The expansion project is expected to begin next month.
"Noblesville Assisted Living Group LLC will bring new and significant assisted living square footage with attractive amenities to Noblesville," said Noblesville Economic Development Director Judi Johnson. "Universal Blower Pac Inc., a long time existing Noblesville business, is experiencing fast paced growth and the immediate need to expand. We want them to stay and grow in Noblesville."
The council will next meet on April 25 for a public hearing and a final vote on the tax incentives for both projects.