Tuesday, April 1, 2014

IBJ Reports Tax Credits Offered to Casey's General Stores and Becks Hybrid for Investments in Indiana

From the Indianapolis Business Journal:


Casey’s General Stores Inc. said it plans to build a $30 million distribution center in Indiana that will have as many as 185 employees by 2019.

Ankeny, Iowa-based Casey’s said Tuesday that construction will begin in November on the 250,000-square-foot center in the Vigo County Industrial Park in Terre Haute, about 75 miles west of Indianapolis. The new facility is expected to open by fall 2015.

Casey’s, founded in 1969, operates 1,788 gas station-convenience stores in 14 states, including 80 in Indiana. The company primarily locates stores in communities with populations of 5,000 or less.

The company has about 29,000 employees, with more than 850 in Indiana. It’s only other distribution facility is in its home city of Ankeny.

The Indiana Economic Development Corp. said it would give Casey’s up to $1.4 million in tax credits if it meets its job commitments. It also will provide up to $100,000 in training grants.

In addition, the IEDC will provide Vigo County with as much as $200,000 in infrastructure assistance from the state's Industrial Development Grant Fund. Vigo County will consider additional incentives for the company.


Beck’s Hybrids is planning to expand its Hamilton County headquarters operation to keep up with its booming seed business.

Lt. Gov. Sue Ellspermann will join executives for an “economic development announcement” Wednesday at the sprawling facility in Atlanta—usually an indication that state incentives are on the table—and the Hamilton County Council has three Beck’s-related items on its agenda this week, suggesting local aid for the project.

At last month’s meeting, council member Brad Beaver said the county’s redevelopment commission had discussed creating a tax-increment-financing district to help fund improvements near the Beck's headquarters. The council’s Wednesday agenda includes the possible designation of an economic redevelopment area there, the first step in the process.

“We’ve really been pleased with … you folks and how you work with us,” Beck said at the March council meeting. “We love being here.”

Company officials also declined to comment ahead of the official announcement.

Most of the firm's corn, soybeans and wheat is processed and bagged in Hamilton County, then shipped to distribution centers. Billed as the nation’s largest family-owned seed company, Beck’s does business in eight states.

Beck’s has more than 400 employees companywide, most in Indiana. It added 74 workers in 2012 and 85 last year, Sonny Beck told the council.

The company announced a $24.5 million expansion in 2010, promising to create 72 jobs within five years. Indiana Economic Development Corp. offered up to $650,000 in performance-based tax credits for that growth spurt, and the county provided a tax abatement.

Beck told the council the company’s market share increased steadily from 2006 to 2012, outpacing both of its main competitors: corporate giants Pioneer and DeKalb.