The Allen County Board of Commissioners, Allen County Council and PB Development LLC today announced a partnership to construct a 100,000 square foot shell building at the northwest corner of Lafayette Center Road and Fogwell Parkway.
"Business prospects are looking for opportunities to expand quickly and hit the ground running," said Allen County Commissioner Nelson Peters. "By undertaking this project, we are laying the groundwork for future jobs and economic expansion in our community."
PB Development LLC acquired the property in 2016 for future development. The property is zoned I-2 (General Industrial) and the shell building will accommodate buildout for manufacturing, office, research and development, or warehousing uses. The shell building will be constructed by locally based design-build contractor Michael Kinder & Sons, Inc, a fourth-generation, family owned business.
"Our company has long been a proud corporate citizen and champion of Allen County," said Bill Kinder, CEO of Michael Kinder & Sons, Inc., "We are grateful for and excited about this opportunity to partner with local government and PB Development, LLC to be part of making our economy even more appealing and ready for growth."
The Allen County Board of Commissioners is providing reimbursement of the interest portion of carrying costs on the shell building for up to four-years. Allen County Council is scheduled to consider at its Thursday meeting a 10-year tax abatement on the shell portion of the building, which is estimated to cost $5.2 million.
"Allen County is fertile ground for economic opportunities," said Allen County Council President Larry Brown. "Council appreciates this partnership between the public and private sectors and the investment by both that comes along with it. Taking steps like this lets our Allen County get a step ahead of our competitor communities."
The area where the shell building will be located is home to Stonebridge, which is a county-owned "shovel ready" business park. Development of the shell building builds on the efforts of the county to attract business to the GM area, which provides convenient access to I-69 and will soon add four-lane access to US 24 via Lafayette Center Road.
During the first six months of 2017, the Indiana Economic Development Corporation received 50 requests from competitive projects for existing buildings. Twenty percent of those were for buildings 76,000 – 150,000 square in size.