IMPA Announces Economic Development Incentive

(CARMEL, IN) – The Indiana Municipal Power Agency (IMPA) is pleased to announce a new Economic Development Incentive for existing and prospective customers. Provided that the customer meets a certain criteria, the program can save companies a percentage off of their electric bill for a 5 year period.

“IMPA is continually looking for opportunities to assist our Members, with their economic development efforts,” said Raj Rao, IMPA’s President and CEO. “Electric costs can be a determining factor for companies while they’re selecting where to improve existing facilities and where to establish new operations. With our competitive rates, hopefully, this new incentive will give our member communities an advantage when marketing their communities
for prospective economic development projects.”

Criteria for qualifying for the IMPA economic development incentive include, but are not limited to:

  • Adding a minimum of 1,000 kilowatts at one premise
  • Investing at least $1 million at one premise
  • Receive significant state and/or local economic development incentives

More information is available at www.impa.com/economicdevelopment or by contacting
Bryan Brackemyre. (317) 573-9955 or bryanb@impa.com.

The Indiana Municipal Power Agency is the not-for-profit wholesale power provider to 60 cities and towns across Indiana and one Ohio community who own and operate the municipal electric distribution systems in their communities. IMPA member communities deliver electric service to approximately 330,000 individuals throughout the state. For more information, visit www.IMPA.com.


Governor Holcomb, Greenfield Mayor to Break Ground on New Manufacturing Facility

Governor Eric J. Holcomb and Greenfield Mayor Chuck Fewell will join executives from BeijingWest Industries, Co. Ltd. (BWI) on Wednesday, June 28 at 2:30 p.m. to break ground on the company’s new manufacturing facility in Greenfield – the China-based company’s first manufacturing site in the U.S.

In April, the company, which is a premier chassis supplier that designs and manufactures brake and suspension systems for the global automotive market, announced plans to invest more than $80 million to build and equip a new 274,369-square-foot manufacturing facility in Greenfield’s Progress Park. The company, which serves more than 31 customers around the world and provides the highly-acclaimed MagneRide® suspension system, generated $2 billion of new business. With its growth, BWI plans to begin operations in August 2019 and expects to increase its production by 4 million parts per year to meet the continued demands from its customers, which include Audi, BMW, Ferrari, Ford, General Motors, Honda and Porsche.

BWI, a joint venture of Shougang Corporation and Beijing Fangshan State-Owned Asset Management, was formed in 2009 when the company bought the brake and suspension business of Delphi Automotive, which was once a part of General Motors. The company employs nearly 5,000 associates across more than 17 facilities around the world, which includes operations in China, Czech Republic, France, Germany, Japan, Mexico, Poland, United Kingdom and the U.S.

Indiana is home to approximately 800 foreign-owned business establishments, which provide 170,800 quality jobs for Hoosiers. With more the than 1 million cars assembled in Indiana each year, the Hoosier state is home to the second-largest automotive industry in the nation by GDP, providing BWI close proximity to a leading automobile industry.


Hancock County Proclamation Economic Development Week

May 8 – 13, 2017 National Economic Development Week

Hancock County Commissioners, Recognized 2017 as the 91st anniversary of the International Economic Development Council and as “The Year of the Economic Developer.”

The President of the Commissioners of Hancock County, Brad Armstrong, presented to the Hancock Economic Development Council a copy of the proclamation on May 2, 2017.

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