IBJNews

New owner to spend $51M firing up Noblesville foundry site

Back to TopCommentsE-mailPrintBookmark and Share

A new owner plans to invest $51.4 million to overhaul the former Noblesville Foundry on South Eighth Street, resurrecting a property that has been underused for years.

ID Castings LLC officials did not return messages from IBJ, but a tax-abatement application filed with the city provides a glimpse of the proposed project. About half of the facility is targeted for demolition, an existing production line will be refurbished, and two new lines are in the works.

The company, founded in October, has 27 workers at the site now, and plans to add another 25 with an average salary of $35,525, according to the application.

Noblesville’s Common Council will consider the abatement request Tuesday evening.

Noblesville foundry exterior 15colThe 13.9-acre foundry site has become an eyesore after years of underuse. (IBJ Photo/Andrea Davis)

On the table: a three-year abatement on personal property taxes tied to the $31 million in manufacturing equipment it plans to install. The temporary tax break would save the company almost $1.3 million.

ID Castings acquired the 13.9-acre site and a warren of well-worn foundry buildings in October. Previous owner Indiana Ductile LLC bought it in 2004, according to Hamilton County tax records.

The property was assessed for tax purposes at about $1 million last year. The operation dates back to the late 1800s, when the Noblesville Foundry Machine Co. opened at the corner of Division and Seventh streets.

Historical files in the Hamilton East Public Library’s Indiana Room show operations continued under the name McElwaine Richards Co. Machine Works (which moved the facility to Eighth Street) and later Union Sanitary Manufacturing Co., which made enameled bathtubs and the like.  

Over time, production transitioned to a wide range of metal parts, and the company eventually become known as Noblesville Casting Co., Indiana Room caretaker Nancy Massey wrote in an email.

Eventually production slowed, and the buildings have been largely unoccupied for years.

“The property is in deep disarray,” said Judi Johnson, Noblesville’s economic development director. “It has been an eyesore for years.”

To encourage redevelopment, the city spent about $71,000 from a federal brownfield assessment grant on a so-called Phase 2 environmental study of soil and groundwater on the site. Johnson said the results helped persuade ID Castings to proceed with the project. Site cleanup already has begun, she said.

ID Castings’ website describes its staff as “well-experienced” with using high-speed molding machines to turn out iron castings commonly used in the automotive, construction and heavy-equipment industries. (Indiana Ductile’s web address forwards visitors to the ID Castings site.)

The Noblesville facility is capable of producing more than 1 million castings per year, according to the website, but it also works with customers who need as few as 500 pieces.

ID Castings’ tax-abatement request said the company plans to invest $20.4 million on real estate, including a 260,000-square-foot “new factory.” Equipment to be purchased includes a dust collection system and air-filtration system.

Johnson deferred questions about project plans to the company. A representative is expected to attend the council meeting Tuesday.

Noblesville Chamber of Commerce chief Sharon McMahon is encouraged by the efforts to spur redevelopment on the site just south of downtown.

“It speaks well of the city’s foresight to encourage use of the property and of those who wish to make it a viable part of Noblesville again,” she said.

ADVERTISEMENT

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.

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. By the way, the right to work law is intended to prevent forced union membership, not as a way to keep workers in bondage as you make it sound, Italiano. If union leadership would spend all of their funding on the workers, who they are supposed to be representing, instead of trying to buy political favor and living lavish lifestyles as a result of the forced membership, this law would never had been necessary.

  2. Unions once served a noble purpose before greed and apathy took over. Now most unions are just as bad or even worse than the ills they sought to correct. I don't believe I have seen a positive comment posted by you. If you don't like the way things are done here, why do you live here? It would seem a more liberal environment like New York or California would suit you better?

  3. just to clear it up... Straight No Chaser is an a capella group that formed at IU. They've toured nationally typically doing a capella arangements of everything from Old Songbook Standards to current hits on the radio.

  4. This surprises you? Mayor Marine pulled the same crap whenhe levered the assets of the water co up by half a billion $$$ then he created his GRAFTER PROGRAM called REBUILDINDY. That program did not do anything for the Ratepayors Water Infrastructure Assets except encumber them and FORCE invitable higher water and sewer rates on Ratepayors to cover debt coverage on the dough he stole FROM THE PUBLIC TRUST. The guy is morally bankrupt to the average taxpayer and Ratepayor.

  5. There is no developer on the planet that isn't aware of what their subcontractors are doing (or not doing). They hire construction superintendents. They have architects and engineers on site to observe construction progress. If your subcontractor wasn't doing their job, you fire them and find someone who will. If people wonder why more condos aren't being built, developers like Kosene & Kosene are the reason. I am glad the residents were on the winning end after a long battle.

ADVERTISEMENT