IBJNews

Sweetener maker plans $21M in improvements, 151 new jobs

Back to TopCommentsE-mailPrintBookmark and Share

Heartland Food Product Groups is seeking tax breaks on more than $21 million in building work and new equipment for its production facility in Indianapolis, which it says will result in 151 new jobs.

The Indianapolis Metropolitan Development Commission will consider preliminary approval of the tax breaks—which could save Heartland about $985,000—at its 1 p.m. meeting on Wednesday.

The Carmel-based maker of sweeteners and liquid water flavors plans to invest nearly $18 million in new equipment for its 130,000-square-foot plant at 4635 W. 84th St., plus $3.2 million on building improvements, according to the firm’s applications for two tax abatements.

The equipment, for which Heartland is seeking a personal property tax abatement, would include several new production lines and filling, blending and packaging gear. The building improvements, which would be eligible for real property tax abatements, call for new production rooms and work on the facility’s power, water, drainage and air systems.

Heartland says that the project will ensure the retention of 267 current employees and create another 151 jobs by 2017. The existing jobs pay an average wage of $19.11 per hour, and the new positions would pay $18.02 per hour.

Both proposed abatements would be for eight years. The tax break on equipment would save Heartland $850,379 over that period, according to city staff analysis. During the eight years, the firm still would pay $529,345 in taxes on the equipment, and then about $142,732 annually after the end of the deal.

The tax break on the building improvements would save Heartland $135,288 over eight years. During the abatement, it still would pay $104,160 on the improvements, and then $29,931 annually after the end of the deal.

City planning staff has recommended approval of both abatement requests.
 

ADVERTISEMENT

  • Italiano = clueless
    Italiano - you make it sound as if they are getting $$ from the state. The state is offering them a reduction of future taxes for investing in equipment and real estate which is a positive thing in case you didn't know. They are also keeping and adding new jobs in the state of Indiana...which is also positive for Indiana's economy. This is what is known as investing in the future of our economy and is also why Indiana is the top state for business in the Midwest. These are known as win-win's for Indiana and businesses in Indiana.
  • CA-CHING
    Invest 21 million and get ?? million from the state. What a racket

    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. why oh why does this state continue to elect these people....do you wonder how much was graft out of the 3.8 billion?

    2. i too think this is a great idea. I think the vision and need is there as well. But also agree with Wendy that there may be better location in our city to fulfill this vision and help grow the sports of hockey and figure skating in Indy. Also to help further develop other parts of the city that seem often forgotten. Any of the other 6 townships out side of the three northernmost could benefit greatly from a facility and a vision like this. For a vision that sounds philanthropic, the location is appears more about the money. Would really like to see it elsewhere, but still wish the development the best of luck, as we can always use more ice in the city. As for the Ice growth when they return, if schedules can be coordinated with the Fuel, what could be better than to have high level hockey available to go see every weekend of the season? Good luck with the development and the return of the Ice.

    3. How many parking spaces do they have at Ironworks? Will residents have reserved spaces or will they have to troll for a space among the people that are there at Ruth Chris & Sangiovese?

    4. You do not get speeding ticket first time you speed and this is not first time Mr.Page has speed. One act should not define a man and this one act won't. He got off with a slap on the wrist. I agree with judge no person was injured by his actions. The state was robbed of money by paying too much rent for a building and that money could have been used for social services. The Page family maybe "generous" with their money but for most part all of it is dirty money that he obtained for sources that are not on the upright. Page is the kind of lawyer that gives lawyers a bad name. He paid off this judge like he has many other tine and walked away. Does he still have his license. I believe so. Hire him to get you confiscated drug money back. He will. It will cost you.

    5. I remain amazed at the level of expertise of the average Internet Television Executive. Obviously they have all the answers and know the business inside and out.

    ADVERTISEMENT