A longtime Noblesville-based plastics manufacturer said it plans to spend $6 million to build and equip a new headquarters in the city.
Metro Plastics Technologies Inc. is in the process of acquiring a 34.6-acre property on Pleasant Street to the west of Union Chapel Road, where it plans to locate a 72,000-square-foot office and manufacturing facility. The company, which has nearly 100 full- and part-time employees, has been housed in a plant at 9175 E. 146th St. for 35 years.
The manufacturer expects to use 7.3 acres for the new building and offer the remaining land for additional commercial development.
Plans submitted to the city by Metro Plastics also show space for a future 48,000-square-foot expansion of the proposed building.
Construction is expected to cost $5 million. The company said it will spend an additional $1 million to equip and furnish the facility.
As part of a proposed incentives agreement with Noblesville, the city will design and construct a two-lane access street with sidewalks between the facility and Union Chapel Road, and install storm water and sewer infrastructure.
Under the proposal, Noblesville also will reimburse Metro Plastics $350,000 for development costs related to excavating a retention pond, installing drainage pipes and providing erosion control. In addition, the city will waive more than $23,000 in planning fees.
The project is expected to increase the assessed value of the land from $70,000 to more than $6 million, according to city planners. The agreement does not call for Metro Plastics to increase employment but notes that at least 50 jobs will be retained in the move.
The Noblesville City Council is expected to consider the agreement at its meeting Tuesday.
Metro Plastics Technologies was founded in 1975, initially as Metro Molding.
The family-owned company built its existing plant in Noblesville in 1981 and changed its name. The 55,000-square-foot facility contains more than 20 injection-molding machines that make products for clients in a wide range of industries, including consumer electronics, medical, household, automotive, food service and sports.