Officials in northwestern Indiana say a nearly $70 million business park is planned at an abandoned factory site where a manufacturer might move operations from suburban Chicago.
East Chicago officials say developer MZG & Associates, which is owned by steel executive Michael Goich, wants to build several industrial buildings on the former Union Tank Car Co. property. Union Tank Car once employed more than 600 workers at the 50-acre site, but the factory closed in 2008.
City attorney Joseph Allegretti told The Times of Munster that Harvey, Ill.-based steel processor LB Steel, also owned by Goich, is looking to move to the site and employ about 400 to 450 workers.
Mayor Anthony Copeland is proposing that 75 percent of new property taxes from the redevelopment go toward paying project debt as long as theLB Steel employs at least 200 East Chicago residents.
Three to six other buildings ranging from 100,000 to 5000,000 square feet are planned at the site, which will require about $2 million in environmental cleanup. As many as 800 workers could eventually work at the business park, which would be called Suppliers Park.