Celadon plans expansion, $3.4M office building

Back to TopCommentsE-mailPrintBookmark and Share

Local trucking firm Celadon Group Inc. is seeking tax abatements from the city of Indianapolis to build a $3.4 million, 36,000-square-foot office building at its far-east-side headquarters.

The expansion should enable Celadon to retain 657 local employees at an average hourly wage of $19.76 and hire 100 more at an average hourly wage of $17 by 2016, the company said.

In addition, Celadon plans to invest $960,000 in new equipment.

Celadon is seeking five-year property-tax abatements that could save the company $261,308 during the term of the incentives. The investment should add more than $2.7 million to Indianapolis’ tax base, the city said.

The Metropolitan Development Commission recommends approving the abatements and is giving Celadon preferential treatment to help ensure the company meets its hiring benchmark.

Because the city has targeted the logistics industry as a growth sector, it is giving Celadon until at least 2020 to fill the new positions. In addition, the amount Celadon could save in property taxes over the five-year period typically is what would be provided for in an eight-year abatement, the city said.

“The Celadon project represents a project that merits a high level of support based on the commission’s existing economic development policy,” MDC wrote in its recommendation.

Celadon occupies about 40 acres near East 33rd Street and Post Road. Founded in 1986, it has about 3,500 employees and 1,700 customers. Operating primarily under the Celadon Trucking banner, its fleet of 2,800 tractors and 8,200 trailers carry cargo in the United States, Canada and Mexico.

Company shares opened at $10.81 each Friday morning, down from $15.23 per share at the beginning of the year.


  • Clawbacks
    There was anb article recently, just within the week that announced that Ballards' administration was going after a few companies who failed to meet their obligations, thus returning and forfeiting over some of the dollars that were allocated for training and job creation.

    While I think this has not been on the radar in the past - given our fiscal conditions, Ballard's administration ( as well as those in surrounding counties) are starting to claim money back, or negate abatements.
    I agree though, there should be a person dedicated to this proces/project of all abatements and reviewing, not just when the company asks for a renewal, but throughout the entire abatement program.
  • Trust But Verify
    Considering that every company can justify it fits into one of the cities "industry focuses", is this the new normal?

    Sounds like MDC is falling all over itself to give this company accelerated tax benefits and easy terms not normally offered.

    This on top of the no "job retainment requirement" and missing "claw back" clauses for Rolls Royces recent taxpayer deal.

    Is anyone really creating and enforcing "performanced based" taxpayer incentives or are they just throwing money out the window hoping for the best?
    • why are you confused?
      Celadon "requested" an abatement and suggests expecting to hire 100 more by 2016. However, since city dollars are associated with those 100 by 2016, and $ has to be given back if Celdaon doesn't reach that target, the city is providing an extension on their own accord for them to hit the 100 employee additions by 2020 (without penalty if they don't hit the 2016 mark) - since it is an industry focus for this city.

      The abatement issue, means the city is giving them a better deal to save on taxes that would normally amount to an 8 year abatement, but they are pulling those dollars forward to give them an added benefit of those saved dollars being provided in 5 years instead of a normal 8yrs (for that % or $ amount) - to help them earlier financially.
    • ??????
      This article is confusing.

      First it is said Celadon will retain 657 local employees and hire 100 more by 2016.

      Then the Metropolitan Development Commission is quoted that that it is giving Celadon until at least 2020 to fill the new positions.

      In addition, the amount Celadon could save in property taxes over the five-year period typically is what would be provided for in an eight-year abatement.

      Whats up?

      Post a comment to this story

      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.

      Sponsored by

      facebook - twitter on Facebook & Twitter

      Follow on TwitterFollow IBJ on Facebook:
      Follow on TwitterFollow IBJ's Tweets on these topics:
      Subscribe to IBJ
      1. I had read earlier this spring that Noodles & Co was going to open in the Fishers Marketplace (which is SR 37 and 131st St, not 141st St, just FYI). Any word on that? Also, do you happen to know what is being built in Carmel at Pennsylvania and Old Meridian? May just be an office building but I'm not sure.

      2. I'm sorry, but you are flat out wrong. There are few tracks in the world with the history of IMS and probably NO OTHER as widely known and recognized. I don't care what you think about the stat of Indy Car racing, these are pretty hard things to dispute.

      3. Also wondering if there is an update on the Brockway Pub-Danny Boy restaurant/taproom that was planned for the village as well?

      4. Why does the majority get to trample on the rights of the minority? You do realize that banning gay marriage does not rid the world of gay people, right? They are still going to be around and they are still going to continue to exist. The best way to get it all out of the spotlight? LEGALIZE IT! If gay marriage is legal, they will get to stop trying to push for it and you will get to stop seeing it all over the news. Why do Christians get to decide what is moral?? Why do you get to push your religion on others? How would legalizing gay marriage expose their lifestyle to your children? By the way, their lifestyle is going to continue whether gay marriage is legalized or not. It's been legal in Canada for quite a while now and they seem to be doing just fine. What about actual rules handed down by God? What about not working on Sundays? What about obeying your parents? What about adultery? These are in the 10 Commandments, the most important of God's rules. Yet they are all perfectly legal. What about divorce? Only God is allowed to dissolve a marriage so why don't you work hard to get divorce banned? Why do you get to pick and choose the parts of the Bible you care about?

      5. Look at the bright side. With the new Lowe's call center, that means 1000 jobs at $10 bucks an hour. IMS has to be drooling over all that disposable income. If those employees can save all their extra money after bills, in five years they can go to the race LIVE. Can you say attendance boost?