Corteva to occupy new $30M distribution center in Anderson
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Indianapolis-based seed distributor Corteva Agriscience plans to open a new warehousing and distribution facility in Anderson.
The 300,000-square-foot facility in the 1900 block of East 60th Street is being developed by local industrial real estate firm Scannell Properties LLC and wholly occupied by the agricultural company through a 10-year lease when the building opens in 2024.
Scannell is investing $30 million in the project, which will feature 100,000 square feet of climate-controlled storage space. According to the Anderson Herald Bulletin, which first reported the project, Corteva expects to employ 41 people at the facility, with average wages around $22 per hour. During its peak season, the facility could employ up to 70 people.
Site work has been underway on the 56-acre parcel since May, with the city’s plan commission approving a rezoning of the site to industrial uses in August. Construction on the building is expected to start this month and be completed by June 2024.
Anderson city officials plan to host a ceremonial groundbreaking for the facility on Oct. 10 at 11 a.m., with featured speakers including Mayor Thomas Broderick Jr. and representatives from Scannell Properties and Corteva.
The Anderson City Council on Oct. 12 will consider a six-year, 65% tax abatement for the project, which would save Corteva about $2.2 million in taxes over that period. The project is expected to create $4.3 million in new tax revenue for Anderson during the initial term of Corteva’s lease, according to the city.
The building will have 28 loading docks and parking for 25 semitrailers. The Herald-Bulletin reported Corteva could support 125 semi trips a day during its busy season and half of that during its down season.
Corteva’s 10-year agreement with Scannell includes two five-year options.
A Corteva representative declined to comment for this story.
The USDA Economic Research Service reported this week that Corteva and rival Bayer now control more than 70% of the corn and soybean seed market in the United States, with Corteva the leader in both categories.