A deal is in the works that promises to bring 600 jobs to South Bend over the next ten years.
A company that already has its corporate headquarters in South Bend plans to bring its manufacturing operations into town.
“They’re a South Bend based company but they have manufacturing plants in Texas (Ft. Worth) and elsewhere and they'll be consolidating those operations here in South Bend,” said Scott Ford, South Bend’s Director of Community Investment.
Nello Corporation makes towers for the likes of Verizon and AT+T and produces more than 1,000 units annually.
Nello Corporation now has two facilities in Bremen, Indiana: A distribution center and a tower manufacturing plant.
Nello has another facility in Texas where the poles are made.
Plans call for consolidating operations and creating a corporate campus on now vacant land just northwest of the ethanol plant off Calvert Street.
“We’re thrilled that Nello has made a strategic decision to come to this area, we know they’ve eyed a number of locations, it’s very competitive in the world of economic development, there’s a lot of options,” said Jeff Rea, President of the St. Joseph County Chamber of Commerce. “It’s production jobs which I think are very good, I think Nello has a great track record of being a solid employer, I think the significant investment typically when people make that kind of investment they’re talking about making here, they’re here for a while.”
The consolidation is a $60 million dollar project that calls for the city to contribute $9 million.
“It's around 15 percent of investment which has been our guidelines throughout, particularly on a project of this nature which will draw so many good jobs into the community and really support South Bend,” said Scott Ford.
“This is a proven company. Their headquarters have been here in South Bend and now they want to make this their whole home and bring everybody here,” said Councilman Davis. “It’s something that $9 million is worth.”
The city’s $9 million contribution would come over a three year period from Tax Incremental Financing dollars. The city would purchase equipment and lease that back to Nello.
The Indiana Economic Development Corporation offered Nello Corporation up to $2.9 million in conditional tax credits and up to $75,000 in training grants based on the company’s job creation expectations.