Bloomington, Indiana (February 7, 2013) – The City of Bloomington showed its support for Hoosier Energy yesterday with City Council approval of a ten year property tax abatement for a new headquarters facility being considered by the generation and transmission (G&T) cooperative. If Hoosier Energy proceeds with the project, the abatement could result in the City receiving over $2 million in new taxes during the next 10 years from a proposed corporate headquarters facility. Hoosier Energy would receive an equivalent property tax savings over the 10-year period.
The headquarters project, which still requires final approval from Hoosier Energy’s board of directors, will allow the electric cooperative to retain its corporate headquarters in Monroe County where it has resided for more than 60 years. Hoosier Energy’s current headquarters is on North State Road 37, outside of the city limits.
“The approval of Hoosier Energy’s abatement request is a huge step toward finalizing their location decision,” said Ron Walker, President of the BEDC. “I believe Hoosier Energy’s culture and corporate practices are an excellent fit for Bloomington and I’m thrilled at the support the City of Bloomington has shown to retain Hoosier Energy’s $11 million dollar annual payroll and 116 employees,” said Walker. The Bloomington Economic Development Corporation (BEDC) has been working with Hoosier Energy for almost two years to find the best fit for the proposed headquarters office.
The proposed $20 million headquarters facility includes construction of an 83,000 square foot “prairie style” office building on 13 acres. The building is expected to include an array of energy efficiency features and Hoosier Energy plans to seek LEED certification for the facility. If approved by the cooperative’s Board of Directors, the project will be targeted for completion by the end of 2014. The site and building are also designed to accommodate a 30,000 square foot expansion in the future if the need arises. Hoosier Energy currently plans to leave much of the wooded property undisturbed.
“We evaluated a number of locations for a new facility over the past two years, including several sites outside of Monroe County” noted Mike Rampley, Hoosier Energy’s Senior Vice President of Marketing and Business Development. “We concluded that a site on the south side of Bloomington offered our best alternative. We appreciate the great support we’ve received throughout this process from BEDC, City of Bloomington staff, and the City Council,” said Rampley.
“For years now, this type of project is exactly what City planners had hoped to see here,” said Mayor Mark Kruzan. “We’re proud that Bloomington has the workforce, the cultural amenities and the community support that makes this Hoosier Energy’s top site. We look forward to Hoosier Energy remaining a local company and ultimately fulfilling the employment center vision that the City has long held for this location.”
About Hoosier Energy
Hoosier Energy is a generation and transmission cooperative providing wholesale electric power and services to 18 member distribution cooperatives in central and southern Indiana and southeastern Illinois. Based in Bloomington, Indiana, Hoosier Energy operates coal, natural gas and renewable energy power plants and delivers power through a 1,800-mile transmission network. For more information, visit www.hepn.com
The BEDC is a not-for-profit organization dedicated to the retention, development and attraction of quality jobs in Monroe County. The BEDC is led by a partnership of private industry leaders, the City of Bloomington, Monroe County, Indiana University and Ivy Tech Community College–Bloomington. For more information, visit comparebloomington.us
Chris Tryba (Hoosier Energy) – 812-345-3892 or firstname.lastname@example.org
Danise Alano-Martin (City of Bloomington) – 812-349-3477 or email@example.com
Ron Walker (BEDC) – 812-335-7346 or firstname.lastname@example.org