Brownsburg is considering tax incentives for an unnamed life science company that plans to invest an estimated $435 million in a new facility. The company would relocate 1,776 jobs and add 300 jobs to the town in coming years.
The development, which is referred to as “Project Falcon” in public documents, would be located in the Ronald Reagan Logistics Center near Interstate 74 and North County Road 100 East. It would include administrative office, lab and production facility space.
The relocated jobs would pay an average wage of $40.71 an hour, and the new jobs would pay an average wage of $45.90, according to town documents.
Already, the Brownsburg Economic Development Commission has given initial approval for the town to issue more than $80 million in TIF bonds to support the project.
The Brownsburg Town Council on Thursday will introduce the bonds and a request for a personal property tax abatement for the unnamed company.
“They plan to construct a 540,000-square-foot headquarter facility here in Brownsburg that will include other administrative office space, lab space and a production facility,” Brownsburg Town Manager Deb Cook said during the Oct. 16 economic development commission meeting. “We have competed with other communities trying to bring this here, and we’re very pleased that they do want to come here to Brownsburg.”
She said the new facility would be constructed next to the planned HarperCollins Publishers supply chain logistics facility, a recently announced 1.6 million-square-foot hub set to open in 2028.
The life science company reportedly has 60,000 employees worldwide, but no other information has been disclosed about it.
Construction on the project would start next year and be complete by the end of 2028, a lawyer representing the company said during the meeting.
Documents don’t say where the jobs would be relocated from.
The town manager’s office is requesting that the council grant a 10-year personal property tax abatement for the company, which plans to spend $95 million on equipment, based on its hiring goals. The company would still pay about $1.8 million in personal property taxes during the abatement period.
As for the bonds, the debt would be repaid using TIF revenue generated by the new facility.
“We are not on the hook for the payments, nor will we have to pay for any shortfalls,” Cook said.
Cook did not return calls from IBJ seeking comment for this story.
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