Industrial re-development for Lafayette and Tippecanoe County just got a big boost with the purchase of $8.6 million in prime real estate between I-65 and Newcastle Road. The 339-acre parcel of farmland is directly across Indiana 38 from the Subaru of Indiana Automotive (SIA) plant.
For a dozen years, the City of Lafayette had been trying to broker this deal to secure “the future for our industrial development,” says Mayor Tony Roswarski.
“Getting this piece of property now is a huge victory for us,” Roswarski says. “We think the excellent location, the ability for rail service and utilities, and being in such close proximity to the interstate, it can really be a big part of our future. Already, we’ve had six or seven inquiries from companies interested in the site.”
Mayor Roswarski adds that potential jobs on these 300 acres could easily total in the thousands.
“Acquiring this property is key to recruiting new industry and economic development to the area,” notes Jody Hamilton, external affairs director for Tipmont REMC. “It’s a linchpin for future job growth — both for the City of Lafayette and Tippecanoe County. It’s no coincidence Tipmont’s and Wintek’s growth here mirrors the very strong overall growth in Tippecanoe County over the past decade.”
Future job growth in Tippecanoe County is predicted to be 37.1% over the next 10 years, higher than the U.S. average of 33.5%.