Monroe County is advancing a semiconductor manufacturer’s plans to bring operations to Bloomington’s west side.
The county council on Tuesday unanimously approved a tax abatement for NHanced Semiconductors as part of its proposal for a manufacturing and packaging facility at 301 N. Curry Pike.
A vacant building at that address belongs to Cook Medical. The county wanted to redevelop the site in 2018, but the project was disrupted by the COVID-19 pandemic.
Council members were highly supportive of the NHanced’s plan, calling it a step toward diversifying the county’s economy and supporting job growth.
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“Having that here is just absolutely tremendous,” council member Trent Deckard said. “What I’m excited about (NHanced) coming in is seeing a facility that used to have a lot of life when I was a younger kid around here have life again.”
The 100 percent, 10-year abatement is on personal property tax, which refers to property besides real estate, such as equipment. NHanced would have otherwise paid about $8.8 million in personal property tax.
The council’s approval was required following a positive vote by the county commissioners. The Bloomington Economic Development Commission also supported the project.
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NHanced plans to invest $152 million in the facility, which it expects will bring 250 new jobs to the area by 2029. On average, each position will pay more than $100,000 per year, in addition to benefits, according to the company.
NHanced President Bob Patti said the company could start operations as early as April 2024.
“There’s a stream of contractors standing by; we’re still finishing up the lease terms and the fine print with Cook,” Patti said. “Assuming we are able to execute all of that in a timely fashion, we’re looking to start having real people on site in the April timeframe, and first production in the third quarter of next year.”
Key positions will include management, engineering and production associates. NHanced said it will also need technicians. It plans to partner with local colleges and K-12 schools on training and recruitment.
