Hoosier Energy, which supplies power to more than 750,000 residents and businesses, plans to begin work this summer on a new headquarters on a 13.5-acre site on the south side of Bloomington.
The firm will invest about $27 million on the project, to be located on Tapp Road near State Road 37, according to a company release. About 115 employees will work at the 83,000-square-foot facility, expected to be completed in late 2014.
The cooperative has been located on the north side of Bloomington since the 1960s. The group’s board evaluated about 60 possible sites in multiple counties for the new headquarters, which is expected to bring together employees at two current locations.
The city of Bloomington recently approved a 10-year tax abatement for the project .
“This is the outcome that we had hoped for,” said Bloomington Mayor Mark Kruzan. “Bloomington is able to retain these quality jobs and Hoosier Energy’s corporate headquarters.”
Hoosier Energy is a generation and transmission cooperative that provides electric power to 18 electric distribution cooperatives serving central and southern Indiana, and southeast Illinois. It operates five power plants and two renewable energy plants.