Jun. 20—MERRILLVILLE — The former Fieldhouse facility has a new owner that intends to invest millions in the town and bring dozens of jobs to the community.
Town Manager Patrick Reardon said Midwest Aerospace Casting acquired the building in the AmeriPlex at the Crossroads business park along Broadway and between 93rd and 101st avenues.
"The parent company, if you will, Chicago Magnesium, is long-standing, actively involved in working with NASA, certainly the aerospace industry," Reardon said.
He said the firm is expanding into Merrillville from Illinois, and Midwest Aerospace will invest about $6 million in the first phase of the project.
"That investment consists of building acquisition, building renovation and equipping of that building," Reardon said.
He said the company is expected to retain about 25 jobs and create another 20 positions in the initial phase. Reardon said there will be manufacturing positions and "good, competitive wages" will be offered. Midwest Aerospace will participate in the town's job fair that runs from 11 a.m. to 3 p.m. July 21 at the Dean and Barbara White Community Center, 6600 Broadway.
To assist the company, the Town Council unanimously approved an economic development agreement that will provide a financial incentive of up to $375,000 to Midwest Aerospace.
Tax abatement had been considered, but town officials believe the direct financial support is the best option.
"If you look at the tax abatement, overtime, this up to $375,000 is less than what that projected tax abatement savings would be over 10 years," Reardon said.
Reardon said the incentive "must be earned" by Midwest Aerospace, and it will be distributed as the company accomplishes objectives in the economic development agreement. That includes making certain investments in the property.
Reardon said the business compliments the warehousing, distribution and manufacturing operations that are already in AmeriPlex and planned for the business park.
Merrillville "staff feels this is a home run," Reardon said. "This is exactly the kind of company that we really want to bring."
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