The Herald Bulletin

Morning Update

Local Business

March 5, 2013

HyPro says it will hire locals first, then puts it in writing

ANDERSON, Ind. — At Tuesday’s Anderson Redevelopment Commission meeting, Hy-Pro Filtration operations manager Aaron Hoeg outlined his company’s intent to give locals first crack at the 107 jobs it plans to bring to Madison County.

“That sounds very impressive,” said commissioner Carolyn Scott, “But how would you feel about putting it in writing?”

Hoeg said, “I’d feel pretty good about that.”

He agreed to pen a letter, committing to look at qualified locals before moving on to other applicants.

Hy-Pro said in October it planned to move from its two-building complex in Fishers to a nearly 20-acre plot just north of Nestlé USA later this year. The move includes its headquarters, manufacturing facilities and many of its 52 current employees, roughly a third of whom already live in the Madison County area.

“That’s part of the reason we want to be here,” Hoeg told the commission. “There’s this great talent pool that’s not overused right now.”

In October, Hoeg said the jobs created in Anderson — which would come over the course of roughly three to four years — would average $21 an hour plus benefits. Since that initial announcement, he said, the company’s received “some of the best applications” it’s ever seen.

Hy-Pro is projecting a mid-April start to construction on its new 122,500-square-foot facility, which would house manufacturing, assembly and warehouse facilities for its hydraulic, lubricating oil and diesel fuel products. Hoeg said it could be operational as early as late October.

Before it committed to moving to Anderson, Hy-Pro reached an agreement with the city, which included $1.9 million in tax increment financing funds based on the company’s projected employment numbers and property investment.

All told, Hy-Pro’s investment would be roughly $10.5 million.

“This will be an agreement that looks to the future,” said city economic development head Greg Winkler. The Redevelopment Commission approved it Tuesday.

The city has used funding from its TIF districts before, notably with recently opened Greenville Technology Inc.

But “this was a little more challenging,” Winkler said, since the city had to annex the property and is working to develop a TIF bond from an agreed-upon minimum of $202,000 a year in taxes, which Hy-Pro would pay over a 12-year period.

“That gives us a marketable TIF bond,” Winkler said, adding there’s already a potential buyer for both that bond and the one for GTI.

The TIF and zoning issues also need approval from the Economic Development Commission, the Plan Commission and the City Council.

Find Baylee Pulliam on Facebook and @BayleeNPulliam on Twitter, or call 648-4250.

1
Text Only
Local Business
  • boynton, brandon photo Teen receives funding for business venture Brandon Boynton is moving forward with his business dreams, thanks in part to a local working capital loan and a fundraising campaign.

    July 30, 2014 1 Photo

  • Senior housing project advances If all the pieces fall into place within the next two weeks, construction on a new senior housing development could begin this fall.

    July 30, 2014

  • Roundabout bids higher than expected Bids for a planned facelift of the gateway into Anderson from Interstate 69 at Scatterfield Road came in considerably higher than the engineer’s estimate for the project.

    July 29, 2014

  • FEA - HB0729 - Senior Falls Aging safely in the comfort of her home Marilyn Moneyhun said being totally reliant on others is difficult. "Losing your independence is a shock to your system," Moneyhun, 84, said. "You are not in control anymore."

    July 29, 2014 1 Photo

  • NWS - HB0728 - business expansion CB Fabricating makes $2 million investment

    A local business founded in 2006 has invested $2 million in new equipment and a building expansion.

    July 29, 2014 1 Photo

  • Charo Boyd: 'My Social Security' simplifies your life So many people buzz through extremely busy and complicated schedules these days. A smartphone in one hand, a computer in front of you, and a digital task list that never seems to end. In addition, to complicate things just a little more, there’s another event you need to add to your list — National Simplify Your Life week.

    July 28, 2014

  • nws - hb0725 - colts - jc - 4.jpg Colts camp's impact: pricey or priceless?

    Football fever is here and the city is flooded with fans eager to catch a glimpse of a favorite player. But officials say they are unclear what kind of economic impact the Indianapolis Colts training camp has on the area.

    July 26, 2014 1 Photo

  • BIZ - HB0727 - Skill gap 2 Seeking a solution today, not tomorrow Tina Warner-Morton says she wants to open her own healthcare business because it is too difficult to work for an employer with unclear employee expectations.

    July 26, 2014 1 Photo

  • BIZ - HB0727 - Cathy Cupboard Biz Profile Business Profile: Cathy's Cupboard focuses on customer satisfaction Cathy McPhearson opened her first storefront in June, but this is not her first venture into business. “I have always wanted to have my own business,” she said. “The problem was finding what people like, but everyone seems to like candles.”

    July 26, 2014 1 Photo

  • IU Health Ball Memorial Hospital named Level III trauma center The Trauma Center at Indiana University Health Ball Memorial Hospital has been verified as a Level III Trauma Center by an ad hoc committee of the Committee on Trauma (COT) of the American College of Surgeons.

    July 26, 2014

Stocks
Hyperlocal Search
Premier Guide
Find a business

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