Valparaiso has experienced many economic successes over the last few years. Much of the success can be attributed to an engaged Mayor and City Council that help foster a positive business environment as well as a strong partnership between the City and the Valparaiso business community. The City values economic development to the point where it has hired a full-time Economic Development Director. Below is a listing of some of the
Pratt Industries: Pratt Industries is the 5th Largest Corrugated Packaging Company in the world. In March of 2014, Pratt Industries ("Pratt") broke ground on its $260 million paper mill. This ____ sq./ft. facility will compliment its Corrugating Plant, which was built in Valparaiso in 2001. Pratt initially considered over 100 possible locations for its new paper mill, but ultimately selected Valparaiso. The decision was driven, in larger part, because of: i) the ability of Valparaiso Utilities to address Pratt's substantial sewage and water needs in both a comprehensive and economic manner; ii) the coordination of state, regional and local incentives; and, iii) the ability to attract and retain a productive workforce. When complete in the fall of 2015, Pratt Industries will employ over _____ employees making it the largest private employer in Valparaiso.
Lakes of Valparaiso: On August 5, 2014, Lakes of Valparaiso broke ground on a 236+ acre residential/business park project. In addition to 408 luxury apartments, a 90-arce business park was included. In partnership with the City of Valparaiso and Redevelopment Commission, Memorial Drive is being extended through the entire development. Apartment construction is scheduled to commence in the Fall of 2015.
"Dome" Parcel Redevelopment : Since 2001, drivers on Rt. 49 and pilots using the Porter County Airport has seen a large concrete dome structure. Built in 2001 by Natural Ovens for bread baking, it was unfortunately abandoned in 20__. Since that point, it essentially sat abandoned. In 2013 it was offered for tax sale; however, due to the amount of delinquent taxes and the disrepair of the dome structure, no bids were received. Working in partnership with the Porter County Commissioners, the Valparaiso Redevelopment Commission received title to the property in the fall of 2014. After soliciting requests for proposals, the Valparaiso Redevelopment Commission selected Holladay Properties and executed a Development Agreement and Real Estate Purchase Agreement. Holladay Properties will construct a 50,000 sq./ft. building with plans for a second 50,000 sq./ft. building. The City Council provided tax abatement and the Redevelopment Commission offered a favorable payment structure on the sale of real estate. Construction is slated to start in the Fall of 2015.
Downtown Residential: In the early morning of March 4, 2013 fire struck a commercial building in the Valparaiso downtown. The location sat dormant and fenced off until plans were developed in the spring of 2014 by private investors to rebuild the building into a commercial/residential building with underground parking available to the tenants. Working with the City and the Redevelopment Commission incentives were structured to secure $2.4 million in private investment. Construction began in the spring of 2015 with a completion date scheduled in late Fall 2015.
Elite-Crete: A true local success story, owner Ken Freestone started his business in __________ on the idea of making interior and exterior concrete flooring both more durable and appealing. In __________, Elite-Crete opened its _______ sq./ft. building in Valparaiso. Demand for Elite-Crete products has been so overwhelming to the point that Elite-Crete needed to expand. Although Ken had choices, his decision was to remain in Valparaiso and build a _____________ sq./ft. building. The City of Valparaiso, working with Ken, approved a 7-year scaled tax abatement to help Elite-Crete in its decision to stay and grow in Valparaiso.
Porter Hospital: Valparaiso continues to be a preferred location for medical facilities. On November 5, 2014, Porter Health Care Systems broke ground a 10,740 square-foot 24-7 Emergency Room facility. When finished in the Fall of 2015, the ER will bring 50 new healthcare jobs to Valparaiso.
UGN: Founded in 1986 as a partnership between Nihon Tokushu Toryo Co., Ltd. (Nittoku) and Autoneum, UGN, Inc. is the preferred producer of high quality acoustic, interior trim and thermal management products and is a recognized leader in customer satisfaction for the Japanese transplant automotive industry in North America. UGN has expanded previously in Valparaiso. In early 2014, UGN approached the City about a new expansion project; however, other locations were being considered. Working with the IEDC, Valparaiso was able to secure an over $4 million investment with 14 new employees to add the 284 current UGN employee base. Construction commenced _______________.
Cim-Tech: The Company was founded in May of 2006 by owners Rudy Tolkamp and Brian Grebel. Cim-Tech began as an industrial engineering firm focused primarily on assisting regional steel mills. Today, its customers include several Integrated Steel Mills in North America and throughout the world. The company moved to Valparaiso in 2011 and by early 2015, was ready to expand their current location and workforce from 22 employees to 37. With help from the City and IEDC, Cim-Tech was offered a 5 year tax abatement for its expansion project plus State incentives to assist with new employees.