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An Iowa-based semi-trailer dealer plans to spend $85 million to redevelop its regional hub on the south side of Indianapolis—and it’s asking for tax breaks from the city to support the project.
Truck Country of Indiana, also known as Stoops Freightliner-Quality Trailer, plans to expand its facilities along West Thompson Road, near the I-69/I-465 interchange, to provide for more parking, a new showroom and expanded office and service space, according to filings with the city’s Department of Metropolitan Development.
The project would see the demolition of the easternmost building on the site—at 1631 W. Thompson Road—leading to a new 215,000-square-foot structure built in its place. That building would contain offices, an expanded service area, and more showroom space. It also would feature an attached 250-space parking garage.
The other building on the property, at 1851 W. Thompson Road, would remain in place with minor upgrades, as would the expansive surface parking lot around the facility that is used for truck and trailer parking.
Work is expected to commence on the project later this month, with initial occupancy expected by the end of 2024.
The cost for the new building and parking garage is expected to total $50 million, while infrastructure improvements to the site—including new sidewalks and the removal of old utilities that run beneath an existing detention pond—would cost about $30 million. Solar panels are expected to be installed on a portion of the new building, to be accompanied by charging stations nearby, at a cost of $5 million.
The expansion is meant to accommodate continued growth of the Indianapolis location—which employs about 225 people—as a regional headquarters and hub, with expanded marketing and human resources operations and a swelling sales staff. About 50 full-time jobs with an average pay of $29 per hour are expected to be created with the expansion, along with 10 apprenticeships per year.
The 42.2-acre Indianapolis facility, which was acquired in 2014, is one of six Truck Country semi-trailer dealerships in the state. The others are in Anderson, Edinburgh, Fort Wayne, Fremont and Lafayette. It’s also one of Truck Country’s largest dealerships across a six-state footprint that accounts for 26 total dealerships.
Company officials are asking for a pair of seven-year tax abatements for the expansion—one for the new building and another for solar panels and charging stations.
The real property abatement would save the company $4.19 million in taxes, or nearly 62%, over the abatement period. Truck Country would still pay about $2.59 million in taxes during that time, based on the expected assessed value of the new investment. Once the abatement period is over, Truck Country would pay about $1.47 million in annual taxes on the improvements. The amount is in addition to the taxes the company pays for existing improvements, which totals about $287,112 each year.
Truck Country would save $164,790, or 49.9%, on taxes for the solar panels and charging stations during the abatement, based on the value of the improvements. It would still pay $165,427 during that period, in addition to $29,572 it pays for existing improvements. After the abatement concluded, the additional taxes owed on the personal property would be about $71,607 annually.
As part of its tax abatement agreement with the city—which received preliminary approval from the Metropolitan Development Commission last week—Truck Country also plans to contribute $225,000 over the abatement term (just over $32,000 per year) to EmployIndy, which provides career services in Marion County.
The company last year received approval for its construction plans on the project, including a rezone of a portion of the property from an industrial designation to commercial. The City-County Council must still approve the abatement requests for the project.
A representative for Truck Country did not return messages requesting comment late Monday.
The design firm on the project is Indianapolis-based Halstead Architects.
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This highway exist is a mecca for all things trucking. Everything from overnight truck parking to truck dealerships to rent-by-the-hour motels to strip clubs.
Truly a different world.