The Herald Bulletin

Afternoon Update

Local Business

May 15, 2013

Anderson plans bond sale to provide business incentives

ANDERSON, Ind. — The Anderson Redevelopment Commission plans to sell approximately $5.64 million in bonds so money is available to hook other businesses like Greenville Technologies Inc. and Hy-Pro Filtration.

The city provided $3.25 million to help GTI build its auto-parts manufacturing plant at the Flagship Enterprise Center.

That money was offered as an incentive to the company to build its $21.4 million, 150,000-square-foot plant in Anderson and create 325 jobs over three years.

The city offered Hy-Pro, which broke ground last week, $1.9 million to help on its new 122,000-square-foot headquarters, manufacturing and warehouse facility. The company’s total investment will be about $10.5 million.

The money for both incentive packages came from city tax increment financing district funds.

TIF districts are created so that property taxes from new commercial, industrial and manufacturing businesses are captured and spent on infrastructure improvements within the district. Those improvements are then used as an economic development tool to attract more business to the city.

Interim Economic Development Director Greg Winkler said money from the bond issue will be used to provide similar incentive packages to other businesses that might be interested in locating here.

He said the bonds will be paid off from property tax revenue generated by both GTI and Hy-Pro.

Find Stu Hirsch on Facebook and @StuHirsch on Twitter, or call 640-4861.

1
Text Only
Local Business
  • Comcast employees volunteer to help Habitat for Humanity On Saturday, from 8 a.m. to 12:30 p.m., Madison County Habitat for Humanity members will work with more than 30 Comcast employees, families and friends to beautify the grounds and participate in light interior remodeling.

    April 23, 2014

  • NWS - HB01006 - snow storm - JC 59a FEMA approves disaster aid for 19 counties

    After initially rejecting Indiana's request for federal aid following a brutal winter, the Federal Emergency Management Agency approved disaster relief on Tuesday.

    April 23, 2014 1 Photo

  • NWS - HB0420 - Ellks - JC 2a Rezoning approved for Elks Lodge building With no objections from surrounding property owners, the former Elks Lodge at 1803 Broadway has been rezoned for a planned banquet hall and catering service.

    April 22, 2014 1 Photo

  • life saver.jpg Man credited with saving life says he was doing his job

    When Richard Goff walked into Louis Moyer's home, he smelled gas.

    April 22, 2014 1 Photo

  • Housing complex to open for homeless veterans in Kokomo Jackson Street Commons is Kokomo’s new $3.6 million facility providing permanent housing to 27 previously homeless veterans.

    April 21, 2014

  • Charo Boyd mug [Duplicate] Charo Boyd: Social Security goes green on Earth Day and every day For years, Social Security has been at the forefront of offering convenient, easy-to-use, and secure online services. We, along with those we serve, have saved a lot of paper, shipping costs, and fuel — and cut back on a lot of carbon exhaust and pollution — by going online instead of doing things the old-fashioned, less efficient way.

    April 20, 2014 1 Photo

  • NWS - HB0420 - CATS Buses-09 City to replace CATS fleet With 7-year-old city buses registering 250,000 miles, Anderson is looking to replace its aging transportation fleet.

    April 20, 2014 1 Photo

  • NWS - HB0420 - Funderburk - 04 Man tries to restore father's tainted legacy at dental clinic

    When news broke earlier this month that the Anderson Dental Clinic had been shut down and several employees, including owner Sally Metzner, had been arrested, Mark Funderburk's main concern was the patients. "A lot of them kept going there because of my dad even after he passed away," he said. "And they didn't deserve this."

    April 19, 2014 1 Photo

  • BIZ - HB0420 - Scott wise -TM Gaining an edge and spreading the word in 2014 Scott owner of Scotty’s Brewhouse with locations in Indianapolis, Muncie, Mishawaka and Bloomington, encourages business owners to interact with customers and use powerful tools such as Twitter, Facebook or even with a blog to their advantage.

    April 19, 2014 1 Photo

  • BIZ - HB0420 - Amys Attic - TM Business Profile: Hidden treasures can be found here Amy's Attic Thrift Store, which opened April 1, offers a variety of different items including clothing, accessories, furniture, yard decorations and collectibles.

    April 19, 2014 1 Photo

Stocks
Hyperlocal Search
Premier Guide
Find a business

Walking Fingers
Maps, Menus, Store hours, Coupons, and more...
Premier Guide