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Carmel-based wind-gear maker plans Marion plant

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Vela Gear Systems LLC, a Carmel-based startup manufacturer of mechanical power transmission components used in wind energy, announced Tuesday that it will establish its first manufacturing operations in Marion, creating up to 163 jobs by 2013.

The company, which manufactures components for gears and gearboxes, said it will make a multimillion dollar investment to construct a 250,0000-square-foot manufacturing facility next to Ivy Tech Community College in Marion.

Construction on the new facility is scheduled to begin by mid-2011. Hiring will take place in late 2011 with operations set to begin by mid-2012.

"Indiana is an ideal location due to the high-skilled workforce, and a central location close to a variety of North American customers," said Noel Davis, founder and CEO of Vela Gear Systems.

Vela was founded by veterans of the gear making industry from across the Midwest. The facility will be among the only U.S. manufacturers of large-scale gears for wind-turbine assemblies.

The Indiana Economic Development Corporation offered Vela up to $1.6 million in performance-based tax credits, based on the company's job-creation plans. The city of Marion will consider the establishment of a tax increment financing district at the development site.

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  1. I am not by any means judging whether this is a good or bad project. It's pretty simple, the developers are not showing a hardship or need for this economic incentive. It is a vacant field, the easiest for development, and the developer already has the money to invest $26 million for construction. If they can afford that, they can afford to pay property taxes just like the rest of the residents do. As well, an average of $15/hour is an absolute joke in terms of economic development. Get in high paying jobs and maybe there's a different story. But that's the problem with this ask, it is speculative and users are just not known.

  2. Shouldn't this be a museum

  3. I don't have a problem with higher taxes, since it is obvious that our city is not adequately funded. And Ballard doesn't want to admit it, but he has increased taxes indirectly by 1) selling assets and spending the money, 2) letting now private entities increase user fees which were previously capped, 3) by spending reserves, and 4) by heavy dependence on TIFs. At the end, these are all indirect tax increases since someone will eventually have to pay for them. It's mathematics. You put property tax caps ("tax cut"), but you don't cut expenditures (justifiably so), so you increase taxes indirectly.

  4. Marijuana is the safest natural drug grown. Addiction is never physical. Marijuana health benefits are far more reaching then synthesized drugs. Abbott, Lilly, and the thousands of others create poisons and label them as medication. There is no current manufactured drug on the market that does not pose immediate and long term threat to the human anatomy. Certainly the potency of marijuana has increased by hybrids and growing techniques. However, Alcohol has been proven to destroy more families, relationships, cause more deaths and injuries in addition to the damage done to the body. Many confrontations such as domestic violence and other crimes can be attributed to alcohol. The criminal activities and injustices that surround marijuana exists because it is illegal in much of the world. If legalized throughout the world you would see a dramatic decrease in such activities and a savings to many countries for legal prosecutions, incarceration etc in regards to marijuana. It indeed can create wealth for the government by collecting taxes, creating jobs, etc.... I personally do not partake. I do hope it is legalized throughout the world.

  5. Build the resevoir. If built this will provide jobs and a reason to visit Anderson. The city needs to do something to differentiate itself from other cities in the area. Kudos to people with vision that are backing this project.

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