Economic Development Agencies and Tax Abatements and Local Government and Economic Development Incentives and Tech Companies and Job Creation and Government & Economic Development and Economic Development and Manufacturing & Technology and Technology

IT firm approved for tax breaks on $29 million project

August 19, 2010

The Metropolitan Development Commission of Marion County on Wednesday approved tax abatements related to a nearly $29 million investment that information technology firm Lightbound LLC plans to make in a new data center and equipment.

Lightbound plans to construct the 50,000-square-foot, $24 million data center at 650 W. Henry St. near Kentucky Avenue on the southwest side of Indianapolis.

Further, it plans to spend $4.9 million on new computer hardware, and telecommunications and related information technology equipment.

Lightbound expects the investment will create 35 jobs with an average wage of $24.76 per hour and will retain 32 jobs at an average wage of $22.97 an hour.

The Indianapolis Department of Metropolitan Development estimates the investments will result in an increase to the tax base of about $18.7 million of assessed value.

The nine-year abatements should save Lightbound a total of $2.5 million, the department said.

 

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