heavy industrial/manufacturing warehouse connersville i in ... · investment in the redevelopment...

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Address 4747 Western Ave, Connersville, IN

Building Size 1,660,000 SF (Divisible to 500,000 SF)

Available SF 160,000 SF Office/Showroom Space

1,500,000 SF Warehouse

Lot Size 186 Acres

Sale Price $15,000,000

Lease Rate $1.50 PSF NNN As-is

Ceiling Height 30' Clear Warehouse

Taxes $196,197.00 ($0.12 PSF) 2019

Zoning Heavy Industrial

Year(s) Built 1953-1965

Parking 2,600, Ability to park 7,000 cars

T H E O P P O R T U N I T Y

» Connersville is located in Fayette County, Indiana and in the

center of 5 major metropolitan areas:

» Dayton: 72 Miles to the East

» Indianapolis: 55 Miles to the West

» Cincinnati: 62 Milles Southeast

» Columbus: 142 Miles South

» Louisville: 142 Miles South

Its central location makes it ideal for logistics and manufacturing

with 90 minute direct acces to Indianapolis, Dayton, Cincinnati,

Columbus, and Louisville. The site is in close proximity to major

highways and interstates, a public use airport, has railroad access

on site and accessiblie to 275,000 people within a 30-mile radius

Nearby retailers include: Kroger, JCPenny, McDonalds, Arby’s, and

Dairy Queen.

Clear Height 30'

Column Spacing 60' x 40' (N x S)

Truck Wells 5 Indoor Main Building

5 Indoor Scrap & Chip Out Building

Truck Docks 31 with Load Levelers and Weather Seals Can Build to Suit Many More

Overhead 15 Doors with Grade Access to Plant Floor

Rail Doors 2

Interior Rail 2,000' of Track

Sprinkler Existing Loop System, will BTS ESFR for Tenants

Roof Steel frame support struckure with open-web, steel trusses supporting corrugated steel deck. Flat roof, membrane

Electricity 28 MVA

B U I L D I N G O V E R V I EW

Utility Capacity

Electricity 28 MVA

City Water 70 PSI

Water Provider: Connersville City Utilities

Contact: Bill Ammerman 765.825.2158

Sanitary Sewer Provider: Have their own

Electricity Provider: Duke Energy

Telephone Provider: Verizon

Natural Gas Provider: Ohio Valley Gas

Contact: Tom Watkins 765.825.1148

A v a i l a b l e U t i l i t i e s

Exterior Photos

Interior Photos

Site Plan

DemographicsPopulation

10 Miles 30,628

20 Miles 132,127

30 Miles 274,752

Median HH Income

10 Miles $44,841

20 Miles $46,134

30 Miles $51,211

Average HH Income

10 Miles $60,321

20 Miles $62,422

30 Miles $66,308

Median Age

10 Miles 43.4

20 Miles 42.4

30 Miles 40.0

NearbyRetailers in Connersville:

» McDonald's » Save A Lot » Speedway » Arby's » Kroger » Walmart » US Bank » Dary Queen » Tractor Supply » Pizza Hut » Sherwin Williams » Taco Bell » Subway » Auto Zone » NAPA » O'Reilly » H&R Block » Papa Johns » USPS » And Many More

College Campus

Connersville is home to Ivy Tech Community College - Connersville

Proximity to Indianapolis

Highway Accessibility

CSX Rail Line System Map

Rail Line Connection Map

Drive Times

60%

80%

100%

Why Indiana?State Overview

• State Population: 6.692 Million• 17th most populated state in the U.S.• Median Age: 37.8 Years Old• Median Household Income: $55,746• Employees in Indiana: 3.11 Million• Median Property Value: $147,300

Economic Development Highlight:The Indiana Economic Development Corp. says 2019 was a record year for capital investment, foreign direct investment, and startups in the Hoosier state. In its annual report, the IEDC says the state received 296 commitments from companies to locate or grow in the state. The state of Indiana says these businesses plan to invest more than $8.4 billion in their Indiana operations and create more than 27,000 new Hoosier jobs.** https://www.insideindianabusiness.com/story/41524645/record-year-for-investment-new-jobs-iedc

Indiana by OccupationMost Common Occupations by Indiana Residents:

Most Specialized Occupations by Indiana Residents:

* Graphs Curtesy of datausa.io/profile/geo/indiana

Indiana by IndustryStrong Industry Production

2020 statistics show the majority of big industries producing goods has increased from 4% up to 32%. The top three industry producers are motorized vehicles, base metals, and mixed freight. All having a production increase of 4% - 11%.

* Graphs Curtesy of datausa.io/profile/geo/indiana

Indiana Employment

Employment by Industries• From 2017 - 2018, employment in Indiana grew 1.66%

from 3.05M to 3.11M• Top 3 employment sectors are:

Highest Paying Occupations:Highest paying industries by average salary: • Paper & paper products merchant wholesalers

($154,879)• Pharmaceutical & medicin manufacturing ($108,977)• Petroleum refining ($107,751).* Statistics provided at datauas.io/profile/geo/indiana#economy

• Restaurants & Food Services (196,276 people)• Elementary & Secondary Schools (174,429 people)• Constructions (166,152 people)

• In 2017, universities in Indiana awarded 107,161 degrees

• Median Tuition: $29,210 (Private 4-year college), $6,935 and $18,432 respectively for in-state and Out-of-State students

• Top 3 universities by degree:

• Most popular Majors:

Indiana Education

* Statistics curtesy of datausa.io/profile/geo/indiana#education

• Ivy Tech Community College has a campus in Connersville

Largest University by Degrees Awarded

By the Numbers

• Ivy Tech Community College (21,056)• Indiana University-Bloomington (11,823)• Purdue University-Main campus (11,170)

• 1) Other Liberal Arts & Sciences, General Studies & Humanities

• 2) General Business Administration & Management• 3) Registered Nursing

Indiana State IncentivesEconomic Development for a Growing Economy (EDGE)

The Economic Development for a Growing Economy (EDGE) Tex Credit provides a refundable tax credit to businesses that create new jobs that improve the standard of living for Indiana residents. The credit certification is phased in annually for up to 10 years based upon the employment ramp up outlined by the business.

Hoosier Business Investment Tax Credit (HBITC)

The Hoosier Business Investment (HBI) Tax Credit is the IEDC's primary capital investment tool. The HBI tax credit provides an incentrive to businesses to support job creation and capital investment that improves the standard of living for indiana resident. The nonrefundable income tax credits area calculated as a percentage of teh eligible capital investment to support the project. The credit may be certified annually based on the phase-in of eligible capital investment. * Information curtesy of ecirp.org/site-selection-data/incentives-grants

Indiana State Incentives

Headquarters Relocation Tax Credit (HRTC)The Headquarters Relocation Tax Credit provides a nonrefundable tax credit to a buisness that relocates its headquarters to Indiana. The credit is assessed against the corporation's state tax liability.

Skills Enhancement Fund (SEF)The Skills Enhancement Fund (SEF) provides assistance to companies to support training of employees required to support business growth in Indiana. The grant may be provided to reimburse a portion (typically 50%) of eligible training costs over a period of two full calendar years from the commencement of the project. Grants from the SEF may only support training that leads to a post-secondary or nationally recognized indurstry credential or is specialized company training. If the training is provided to an existing employee, the company must also provide an increase in wages.

* Information curtesy of ecirp.org/site-selection-data/incentives-grants

Indiana State IncentivesDevelopment Tax Credit

The Redevelopment Tax Credit (RTC) provides an incentive for investment in the redevelopment of vacant land and buildings as well as brownfields. This credit, established by Indiana Code § 6-3.1-34, provides companies and developers an assignable income tax credit for investing in the redevelopment of communities, improving quality of place and building capacity at the local level.


Industrial Development Grant Fund (IDGF)The Industrial Development Grant Fund (IDGF) provides assistance to municipalities and other eligible entities with off-site infrastructure improvements needed to serve the proposed project site. Upon review and approval of the local recipient’s application, project specific milestones are established for completing the improvements. IDGF will reimburse a portion of the actual total cost of the infrastructure improvements. The assistance will be paid as each milestone is achieved, with final payment upon completion of the last milestone of the infrastructure project.

Indiana State Incentives


Venture Capital Investment Tax CreditThe Venture Capital Investment (VCI) Tax Credit program provides a nonrefundable tax credit to individual and corporate investors who provide qualified debt or equity capital to Indiana companies, improving access to capital for fast growing Indiana companies. A VCI tax credit certified for an investment made after July 1, 2020 may be assigned to another taxpayer. To be eligible for the tax credit, an investor must submit an application to the IEDC that outlines capital investment plans prior to making an investment.

Research and DevelopmentThe state of Indiana offers two tax incentives encouraging investments in research and development. Taxpayers may receive a credit against their Indiana state income tax liability calculated as a percentage of qualified research expenses. In addition, taxpayers may be refunded sales tax paid on purchases of qualified research and development equipment. The Indiana Department of Revenue oversees these incentive programs.

Indiana Local Incentives

Tax Increment FinancingThe tax increment finance (TIF) mechanism in Indiana permits a town, city or county, through a local redevelopment commission, to designate targeted areas for redevelopment or economic development. Those areas can then be designated as “allocation areas” which triggers the TIF process. After such a designation is made, property taxes in the area rather than going to the normal taxing units can be set aside and invested back in the area to promote development. These property tax revenues can be leveraged by the issuance of TIF bonds, the proceeds of which also can be used to promote development in the area. Most TIF districts collect TIF only on real property. However, a Redevelopment Commission may designate taxpayers owning property within the TIF allocation as “designated taxpayers” for purposes of capturing TIF revenues on depreciable personal property.



Certified Technology ParkThe Certified Technology Park program was created as a tool to support the attraction and growth of high-technology businesses. Designation as a Certified Tech Park allows for the local recapture of certain state and local tax revenue which can be invested in the development of the park.

CReED Tax CreditThe Community Revitalization Enhancement District (CReED) Tax Credit provides an incentive for investment in community revitalization enhancement districts. The credit is available to taxpayers that make qualified investments for the redevelopment or rehabilitation of property located within a revitalization district. Only those projects that the Indiana Economic Development Corporation expects to have a postive return on investment will be considered.



General Purpose GrantsGeneral purpose grants are offered to qualifying companies and can be used for any purpose related to the company’s investment and job creation including the purchase or lease of land or buildings, construction, utility connections, employee relocation, employee training and the purchase, transportation and installation of equipment. Specific grant requirements vary by community.

Tax AbatementTax abatements are available for manufacturing, logistics and information technology equipment and for improvements to real estate. The term and percentage of the abatement is tied to capital investment, wages, and jobs.

For more information regarding incentives please contact Mindy;[email protected]


Josh Huempfner612-465-8522

[email protected]

Blake Martin612-465-8521

[email protected]

Samuel Gerlach612-465-8529

[email protected]

Beth Patterson, Principal317.663.6558

[email protected]# 14030417

heavy industrial/manufacturing warehouse connersville i in ... · investment in the redevelopment...

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