WISH-TV
Noblesville City Council members on Tuesday voted to approve a preliminary resolution that could provide Noblesville based SMC, a maker of technology operated by air or gas pressure, tax breaks to invest $67 million in a new facility at its U.S. headquarters located near 146th Street and Cumberland Road.
SMC is proposing the addition of a 1 million square-foot building on land SMC owns near its current headquarters, according to documents filed with the city.
Noblesville’s Public Affairs Manager Robert Herrington stated, “SMC is requesting a 10-year declining real property tax phase-in and a 10-year 80 percent reduced tax phase-in on personal property.”
Noblesville officials indicated the proposed project is a competitive project, meaning SMC could look to other cities.
The project would bring a total new capital investment of $67 million. To date, SMC has made a capital investment in Noblesville of approximately $140 million. New investment in Real Property is estimated to be $49.8 million, along with $18 million in Personal Property.
The company plans to retain its 954 employees and add about 92 within 10 years as a result of the expansion.
A public hearing on the proposal is set for 7 p.m. on Tuesday, March 27 at Noblesville City Hall, 16 S. 10th St., the documents said.