Mayor Dermody in partnership with IST Distribution, announced plans for a $24 million capital investment to build and equip an 81,000 sq. ft. plastic pellet distribution facility along 39 North at 2321 Progress Drive.
IST Distribution will utilize the Chicago South Shore and South Bend Railroad spur to bring in bulk plastic pellets for distribution to customers across the United States. The company plans to employ 12 new full-time employees making an average wage of $34.00/hour.
According to Mayor Dermody, “The City of La Porte is focused on building a high quality, reliable utility network. The work we have planned along 39 North is essential to providing needed services to businesses and residents throughout this part of the city. We are already seeing the positive effects of these investments as companies like IST Distribution are eager to invest in this growth area.”
“The 39 North Corridor represents a unique development opportunity for the City of La Porte and La Porte County. The availability of power and rail service, connectivity to the Indiana Toll Road and planned infrastructure improvements make this area an ideal location for many different types of businesses. We appreciate the work of Matt Reardon and the La Porte County Office of Economic Development for their assistance on this project and look forward to the start of construction later this year”, said Bert Cook, Executive Director of the La Porte Economic Advancement Partnership.
“The IST project is a great example of intergovernmental cooperation. The City of La Porte continued vision that was established by La Porte County leaders years ago. We look forward to many more projects at 39 N”, said Matt Reardon, La Porte County Office of Economic Development.
Earlier this year the La Porte Redevelopment Commission began the process of improving the water and wastewater in the area with the formation of a new Allocation Area and notice of their intent to finance nearly $13.5 million of infrastructure improvements. The La Porte City Council approved a 5-year 50% Real Property Tax Abatement for the company at their August 5th meeting.
For more information on this development, contact the La Porte Economic Advancement Partnership at 219-324-8584