What’s Next?

What’s Next?

Snapshot of Upcoming Development Locations
By Nick Dmitrovich

 

There’s quite an array of promising things headed Indiana’s way in terms of new locations that are ready and waiting for new business opportunities to come to life. Currently, development officials from around the state are busy identifying and planning for new sites to establish business parks, industrial sites, and more.

In just the last few months, announcements have been released from all over the state that carry news about these potential sites. At the moment, many of them are still in the early phases of their development and are just beginning to take shape. Check out two of 2017’s most interesting announcements:

 

Coming Soon: Brand New Business Park
Harrison County, IN

Right around the beginning of summer earlier this year, the Harrison County Economic Development Corporation announced it had purchased some land officials had envisioned could one day carry a great deal of potential for the area. The organization acquired 50 acres of land near Interstate 64 on the north side of the town of Lanesville, IN, for $2.5 million in the hopes that new business development at the site could spur job creation and continued investment. The county is now planning to establish a brand new business park at the location.

The EDC says efforts are already being made to plan and market the new property with the help of real estate brokers and other site selection consultants. In 2003, planning studies were conducted at the site which suggested the best use of the property might very well be suited for specialized, or “higher-end,” operations. Officials with the county stated rather than having a few larger tenants with operations such as giant distribution centers, perhaps the location would be better used to facilitate smaller, light manufacturers or perhaps designate the space to be used for office or commercial functions.

This is particularly interesting given the nature of the recent technology boom several regions in Indiana are experiencing combined with the ongoing success of the state’s medical device manufacturing industries – both of which typically involve smaller, specialized facilities, and transcend the border between manufacturing and research and development. In any case, now that the land is owned by the local EDC, decisions about the new park’s function will be made at the discretion of the local authorities.

Currently, engineering and planning work will be the first phases of development at the new location. The Harrison County EDC has announced it is looking into establishing roadways through the site, sewer utility lines, a storm drainage system, and other amenities at the site in an effort to kick marketing efforts for the site into higher gear.

 

Duke Energy Identifies Four Potential Sites for Development
Plainfield, IN

A few weeks ago, Duke Energy Indiana announced it has chosen four large parcels in four counties for its 2017 Site Readiness Program. The sites were selected based on their potential to bring large businesses and industries to their respective areas.

They include:

  • A 63-acre site located at the northeast corner of US Highway 31 and County Road 800 North near Edinburgh (Bartholomew County)
  • A 103-acre industrial park with multiple parcels available located off Interstate 64 at Exit 92 near Leavenworth (Crawford County)
  • A 55-acre site at 1228 Harrison-Brookville Road near West Harrison (Dearborn County)
  • A 53-acre site in Noblesville at 14469 Olio Road near Exit 210 off of Interstate 69 (Hamilton County)

“Helping our communities attract large businesses to our service area brings increased jobs and economic prosperity for entire regions,” said Erin Schneider, director of economic development for Duke Energy Indiana. “It’s an important part of our mission, and we look forward to working with our economic development partners to bring added value to these communities.”

Site consulting firm, McCallum Sweeney Consulting will evaluate the four sites, while Banning Engineering will produce conceptual drawings and site plans.

Based on consultant recommendations, Duke Energy will collaborate with county leaders and local economic development professionals to develop an improved strategy for marketing these sites.

The consultant may also recommend road improvements, easements, and rights-of-way that will be required to develop the sites, as well as steps necessary to mitigate any potential environmental impacts.

Duke Energy will present its findings for each site, including a detailed report and conceptual drawings, to city and county officials when the studies are completed. Economic development organizations in each location will also receive a check for $10,000 from Duke Energy to help implement the recommendations.

After each site’s state of readiness has advanced, Duke Energy’s business development team will strategically market those sites nationwide to companies looking to expand or relocate their operations.

Ideal properties for Duke Energy’s Site Readiness Program are typically 40 acres or larger, served by the utility or a vacant industrial building at least 20,000 square feet identified to support renewed industrial growth and sustainable development in a community.

Duke Energy Indiana’s overall economic development program has been consistently named by Site Selection magazine as one of the nation’s “Top 10 Utility Economic Development Programs.” Since 2008, the company has participated in the creation of nearly 20,000 jobs with a total capital investment of approximately $4.5 billion.

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