Work begins on Corteva facility in Anderson
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Officials in Anderson broke ground Tuesday on a $30 million warehouse and distribution facility for Indianapolis-based seed distributor Corteva Agriscience.
The project, being developed by Indy-based Scannell Properties LLC, is expected to create more than 40 jobs when complete.
Plans for the facility in the 1900 block of East 60th Street were first announced last month, though the name of the company set to occupy it was not disclosed. Corteva was identified as the tenant late last week.
The company has signed a 10-year lease that will go into effect when the building opens in 2024.
“We are excited to welcome Corteva to our Anderson community,” Mayor Tom Broderick said in a news release. “They are on the cutting edge of new technology in the agricultural industry and will be a great addition to our growing economy.”
The 300,000-square-foot facility will include about 100,000 square feet of climate-controlled space for precise humidity and temperature levels.
The Anderson City Council on Thursday 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.
“This is a great project for Anderson,” Economic Development Director Greg Winkler said. “The agriculture industry is stable and strong. It impacts our lives and economy on a daily basis. Corteva choosing Anderson is a big win for our city.”
The IBJ’s Mickey Shuey contributed to this story.