Delaware County Assessed Value Up by $56.8 Million
JANUARY 19, 2021
By Delaware County Economic Development—
Delaware County, IN – The Delaware County Commissioners have overseen a great increase in the assessed value of the county over the past four years.
Add to that accomplishment a steady increase in investment from new companies and expansions by some longtime local companies.
County Commissioner James King said, “Increased assessed values are the building blocks of government. The higher the assessed value of a county, the lower property tax rates and the more impetus for new development and investment.”
From 2015 to 2019, the assessed value of property in Delaware County “outside the city of Muncie” has increased by a whopping $56.8 million.
In addition, the Delaware County commissioners have worked to create more than $71 million in anticipated new capital investment in 2019 and 2020 as well as 448 new jobs anticipated.
“It’s no secret that the increase in assessed value coincides exactly with the dates that the County put together its new economic development team in 2015. The way they have positioned Delaware County for investment is really second to none.” said Commissioner Shannon Henry. “We’re starting to hear chatter from state leaders that our economic development program is a model for other communities.”
The figures and other details of jobs and investment created under the county commissioners were included in the annual report on 2020 economic development from Brad Bookout, director of economic affairs for Delaware County.
Bookout said that Delaware County’s goals in 2019 and 2020 were to expand the county’s business footprint, continue to grow the local tax base and continue infrastructure development.
Among the milestones toward those goals that will continue to grow the tax base even further beyond the current jump in assessed value include:
INOX announced its North American headquarters in Delaware County, an initial capital investment of approximately $15 million, including a 149,000-square-foot facility. INOX estimated it would hire 100 employees over five years as it specializes in stainless steel slitting and forming. INOX is the largest stainless supplier to the appliance industry.
Officials from Delaware County and Indiana Gov. Eric Holcomb met with INOX officials and local officials toured the company’s facility in Italy. INOX CEO Federico Sbettega said, “We looked at multiple locations in the U.S. and after meeting Delaware County Commissioner James King and the economic development team, we quickly realized that their organization and support exceeded that of many state government operations.”
PMC Manufacturing Company worked with the Delaware County commissioners and purchased the former Littler Diecast industrial site so PMC could relocate from Illinois. The family-owned business, which performs CNC milling, turning and plasma cutting, plans to hire 20 employees over five years.
Balance Holdings (BHI) worked with the commissioners to launch a local vegetable-growing business that would include a 100,000-square-foot facility, the company’s North American headquarters and five-year-plan to grow from its current 34 employees to 120.
WestRock added $4.7 million in new equipment at its paper business in the town of Eaton. The company, established in 1893 has 64 employees. WestRock is a Fortune 500 company (at No. 177).
Indiana Ticket and Muncie Novelty, established in 1937, makes event tickets and pull-tab products for charitable gaming. The county assisted the company with a $2.6-million equipment investment. The company has 131 employees.
Josh and Sarah Shaffer opened Family First Indoor Boat and RV Storage in the town of Albany. The company invested $500,000 in its climate-controlled, large-scale storage facility on the site of a blighted and abandoned property.
Jones Brothers Trucking established itself in Delaware County with the purchase of land on Mount Pleasant Boulevard and the acquisition of 15 new trucks. The company plans to increase its employment significantly and invest up to $5 million. Jones Brothers pays for training and CDL licenses for its drivers.
Magna Corporation launched a $9.3 million equipment expansion with 50 new jobs added to its 461 current employees. The project was lead by the Muncie-Delaware County Economic Development Alliance, with incentives provided by the Delaware County Council.
Albany Health & Rehabilitation Center launched an $8.4-million expansion that will add 42,196 square feet, including 37 new unites, eight private units, a new therapy gym, a new dining room, theater, activity room, kitchen and lounge. The County along with the town of Albany assisted with the project.
Mid-West Metal Products, established in 1921 and headquartered in Delaware County with 159 employees, invested $1.8 million in new equipment. Delaware County Council assisted with the project.
The town of Yorktown announced a mixed-use development with 26 class-A apartments and all-inclusive retail. The Delaware County Redevelopment Commission provided assistance to Yorktown on the project, which is being constructed by Rebar Development.
Mursix continued to diversify its product lines, with expansion into medical device manufacturing. The locally owned company obtained its ISO 13485 certification with assistance from the Delaware County Redevelopment Commission.
Commissioner Sherry Riggin said, “We’re so excited to see these companies expanding, and the fact that they’re growing Delaware County without risking millions of dollars in tax payer incentives is really a wonderful thing.”
The Delaware County Economic Development and Redevelopment Report 2020 was prepared by Brad Bookout, Delaware County’s director of Economic Affairs, in cooperation with Augusta Consulting, LLC and the East Central Indiana Regional Planning District.
About Delaware County Economic Development
In 2015 the Delaware County Commissioners privatized the County’s economic development activities. Since that time, the County has developed its own business retention and expansion programs that are in constant contact with the multitude of industry within the County. In addition, efforts to identify and attract various suitable industry throughout the world are undertaken on an annual basis. For more information, contact Brad Bookout at [email protected].