An agricultural manufacturing company is planning to invest nearly $3 million to open a new facility in Noblesville.
Dura Products will construct a 15,000-square-foot building and furnish it with new logistical, IT and manufacturing equipment. The capital investment is expected to be $1.8 million and new equipment is expected to cost $1.15 million.
The new facility will be at 17265 Harger Court, which is off of Pleasant Street to the east of State Road 37.
Dura Products plans to add 28 new employees within five years to its existing staff of 11 workers. The average salary will be $40,560.
The Noblesville City Council gave preliminary approval Tuesday night for an eight-year real property tax abatement that will save Dura Products $240,670. The city is also offering a five-year personal property tax abatement that will save the company $43,846.
Dura Products recently invested $3 million to build a new headquarters in Sheridan. In July 2014, the Sheridan Town Council approved the rezone request to allow the 23,000-square-foot facility to be built on about five acres on the town’s west side.
At that time, the company planned to nearly triple its workforce within three years.
Dura Products, which was founded by owners Patrick and Marcy Molter, has 70 distribution locations in the U.S. and two in Canada.
“Noblesville is logistically well-suited and has a balanced community infrastructure, making it attractive for employee recruiting and retention,” Molter said in a written statement. “We are excited to build our new corporate office and manufacturing facility in Noblesville.”
Final consideration of the incentives agreement is scheduled for Nov. 24.