The City of Gary has secured a significant investment from Carmeuse Lime in a transaction that will serve as a catalyst for development in an area designated as a clean-technology Industrial Park. The $10 million transaction should result in roughly 100 new jobs and a $250,000 infusion in workforce development programs in the region and in Gary.
“This partnership with Carmeuse, like the partnership with AFCO/AvPorts at the Airport, is an example of the business-friendly environment we are establishing here in Gary,” said Mayor Karen Freeman-Wilson. “The Industrial Park will help bring clean, cutting-edge and environmentally responsible companies to locate in Gary and provide good paying jobs for our residents.”
Carmeuse Lime purchased a 200-acre property from the Majestic Star Casino to support development related to its existing operation in Buffington Harbor. In addition to this property, Carmeuse is acquiring property on Industrial Highway for immediate development of a facility to produce engineered fuel, where that facility will be developed jointly with Ohio-based Vexor Technologies.
“The Chicago area steel market is an important market to us, and we are excited about the opportunity and options that the property acquisition provides in enhancing our position in this market,” said Carmeuse Area Operations Manager, Jeff Bittner. “City of Gary leadership were key in facilitating this transaction, and we are excited about our expanded relationship with the City and local community.”
Details of the transaction include: 200-acre purchase by Carmeuse Lime 70-acre Carmeuse expansion and modernization 130-acres conveyed to the City of Gary to attract clean technology businesses to Gary 60 acres will be developed jointly by City of Gary and Carmeuse Cash to acquire roughly 70 acres donated to the City by Carmeuse
Construction jobs 30-40 full-time jobs at the facility Carmeuse will make a $250,000 investment ($25,000 annually for 10 years) in local workforce development programs No tax incentives or public subsidies 30% local participation and 20% disadvantaged/minority business enterprise (DBE/MBE) requirements for construction Job opportunities for Gary residents specifically outlined in the contract
With respect to the 60 acres to be developed jointly, any new development attracted to the property would split revenues between the City and Carmeuse. Carmeuse will pay taxes on the 70-acre property it intends to use for its own development and will pay a flat rate of $25,000 as a payment in lieu of taxes every year for ten years on the 60-acres to be developed jointly with the City. Carmeuse is also responsible for maintaining the property.
As part of the terms in the transaction, Carmeuse will provide $250,000 in workforce development and abide by local hiring terms outlined in the public-private partnership at the Gary/Chicago International Airport including a 30 percent local participation goal and goal of 20 percent of work being issued to disadvantaged/minority business enterprises. In addition to these percentages, the Carmeuse transaction specifically includes a preference for local hiring which provides direct employment opportunities for Gary residents.
“Gary is home to a capable and able workforce,” said Common Council president Kyle Allen. “As we continue to attract new development and businesses to Gary, we will keep improving the process, evaluate additional opportunities, and expand the value to our local residents.”
In addition, the Industrial Park will be included as part of the inventory of developable land outlined in the public-private partnership between the City, the Gary/Chicago International Airport, and AFCO/AvPorts which took effect earlier this year. Including this property adds to the attractiveness of the area and marketability in attracting businesses to this site.
“All of this momentum shows the business community that Gary is open for business,” said Gary Redevelopment Commission director Joseph Van Dyk. “We have a comprehensive plan in place to continue to encourage valuable investments that will revitalize and stimulate Gary’s growth.”
The City is currently working on providing the supportive infrastructure needed to accommodate the needs of the Industrial Park including access to roads for trucks and other improvements.