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Firm’s study will measure economic impact of park
The Boone County Economic Development Corp. is commissioning a study to determine the Lebanon Business Park’s economic impact on the community.
Boone County EDC is paying the Katz Sapper & Miller LLP accounting firm in Indianapolis $15,000 to conduct the report, which should be finished in April. It will examine how much tax revenue the industrial park is generating, as well as how many jobs tenants have created and at what wages.
“We believe that the impact of that park has been very positive on the city of Lebanon and the county as a whole,” said Kristie McKillip, executive director of the Boone County EDC. “[There are] a lot of people who don’t know.”
Eighteen companies are located within the park that lies west of Interstate 65 between the State Road 39 and 32 interchanges.
Indianapolis-based Duke Realty Corp. developed the park in 1994. According to its figures, the 750-acre property generated $3.6 million in property taxes in 2006. The amount represented 27 percent of total property taxes collected in Lebanon, and 5 percent of the county’s total property tax base.
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