Noblesville Common Council Approves Preliminary Resolution for Noble Industries

March 15, 2016
Noblesville Economic Development

The Noblesville Common Council has approved the preliminary resolution designating an economic revitalization area for Noble Industries, Inc., 3333 E. Conner St., Noblesville.

“Noble Industries is a homegrown and longstanding business in Noblesville. I am pleased to see their continued growth and expansion. I appreciate the Parker family's commitment to Noblesville's job growth and strong corporate citizenship,” John Ditslear said.

Noble Industries was founded by William and Anita Parker in 1968 and incorporated in 1970. The family business started in a barn with less than 300 square feet and has since grown to a 70,000-square-feet facility with all growth occurring in Noblesville. Noble Industries has 65 employees with many employed for more than 20 years.

Noble Industries has purchased the five acres to the south of its current building and plan to expand an additional 52,400 square feet. The business plans to expand production and warehouse space by 39,000 square feet and office space by 13,400 square feet. Noble Industries' approximate new size with the expansion is 122,000 square feet.

Total capital investment for this project will be $6.1 million – $3.5 million in real property and $2.6 million in personal property, which includes laser upgrades as well as a separate IT room for robot use.

“Noble Industries, Inc. has once again chosen Noblesville to expand their business through new building construction and new purchase of innovative equipment,” Director Judi Johnson said. “Their belief in Noblesville results in the continued growth of jobs and capital investment in Noblesville. Noble Industries is poised to become one of Noblesville's largest manufacturing employers with the addition of up to 50 new jobs in Noblesville.”

As part of the resolution, the common council has approved the location as an economic revitalization area eligible for a 10-year declining real property tax phase-in and a four-year declining tax phase-in for its personal property investment.

March 15 was the preliminary resolution, which is the introduction to an economic development project and lays out the initial request for approval with the council. Because the “first look” resolution was passed, a public hearing and confirmatory resolution will be held at the next council meeting on March 29.

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