IBJNews

  • Home

Carrier to invest $36.5M in local plant, create 276 jobs

IBJ Staff
July 6, 2011
Keywords
Factories, Manufacturers, Manufacturing & Technology, Real Estate & Retail, Residential Real Estate
Back to TopCommentsE-mailPrint

Carrier Corp. said it plans to create 276 new jobs and invest $36.5 million to start a second production line at its plant on the far west side of Indianapolis.

The Farmington, Conn.-based company is requesting tax abatement from the city to help offset the cost of the investment. The Metropolitan Development Commission granted preliminary approval at its Wednesday afternoon meeting.

The new jobs should pay an average of $19 an hour and should be filled by the end of 2015, said Carrier, which will retain 1,450 additional jobs with the help of the abatement, it said.

The company said it already spent $32 million to upgrade equipment at the plant at 7310 W. Morris St. to produce high-efficiency furnaces.

Carrier employed as many as 2,000 people in Indianapolis in 2005 but began trimming its work force as the residential real estate market slumped.

Also, Enterprise Leasing Co. of Indianapolis LLC, an affiliate of St. Louis-based Enterprise Rent-A-Car, is seeking an abatement to help renovate a warehouse and office formerly used by National Car Rental at 7111 W. Washington St.

Enterprise expects to spend $2.1 million and move its administrative office from 9797 Enterprise Drive in Carmel. Fifty-seven employees will be relocated to the 25,000-square-foot building.

 


ADVERTISEMENT
  • New/old jobs
    From Tyler, Tx plantJuly 7, 2011 1:30 PM
    I am just wondering if anyone knows if these new jobs are actually "new" or if they are jobs that will be created by transferring a product in from another Carrier plant....
    Reply to CommentFlag Comment

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

ADVANCED SEARCH
Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ

  1. The lack of street-level retail in this part of the Block 400 development is a huge oversight and somewhat perplexing given the high quality of recent city-backed developments downtown. This portion of an otherwise stellar development is going to have an extremely negative impact on the aesthetics, urban environment, walkability, and livability of the NW quad.

    I'm not sure why One America would oppose including retail. And I find it very hard to believe that the thousands of office workers literally footsteps away wouldn't be able to support new lunchtime destinations and other businesses along Illinois and Vermont. We've got to reconnect the disjointed segments of our blossoming downtown, not create yet another lifeless dead zone that no one wants to walk through. Sadly, that is exactly what this massive ugly single-use structure will accomplish.

    Why not follow the precedent set by the proposed garage in Broad Ripple and create an attractive mixed-use structure? Why does the city get it there but not downtown?

  2. Bear mind that DS is just not another lazy, rich kid. He attended Columbia grad school and was in investment banking for 4 or 5 years before joining his dad's company. An annual grant of stock options at market price would be the correct pay-for-performance program then no one could argue with it.

  3. This comes from an executive who gave his wife a Bentley as a wedding present. He is heir to billions of dollars. He should be working for a dollar a year and stock options only. Seems like a conflict of interest, time to bring in a non-relative as CEO. Haven't met him, but have heard his arrogance is legendary.

  4. If the property is improved, property taxes increase - more revenue. If AUL's employment grows, more income taxes - more revenue. If more people move and/or work downtown, it means more demand for goods and services, more employment, more taxes - more revenue, etc., etc. It's not just the city throwing money at big companies. There's much, much more. Yes, the project has private backing, but apparently not enough to make the deal work and therefore they don't have it covered. And while Marsh is a nice anchor, they are no credit tenant like a Kroger or somebody. And if the police department has a major shortfall, they need to reduce the force. This city has way too many policemen.

  5. It's hard to defend billionaires, but David Simon has created a tremendous amount of value for shareholders since joining the company. He is widely regarded as one of the best CEOs in America. The company is growing and making good strategic decisions. And Indy is fortunate to have SPG HQ'd here. Now, does that merit $120 million (about 15 mil over 8 years or so)? Maybe. But this family and David have truly built a business. Should Zuckerberg be worth $20 bil? Who knows. Hopefully David will be supportive of Hoosier charities like his family has.

ADVERTISEMENT