SuperATV has announced big plans for expansion in Madison and the first step in the process of growing that economic development began at Thursday’s Madison Redevelopment Commission meeting with the adoption of an amending declaratory resolution.
“SuperATV has been a fast-growing company and we’re excited to see them do a couple of things,” said Madison Mayor Bob Courtney. “One of those things is invest, but to invest seriously in Madison.”
The overall capital investment for SuperATV projects is anticipated to be $71 million. Mike Flint, of Ice Miller, spoke to the board on behalf of SuperATV, noting there could be 250 to 370 new jobs created over the next five years depending on acquistions by SuperATV.
Flint said there is “a lot of activity” going on related to acquisitions including “very aggressive” efforts for several to make Madison their headquarters as part of the transactions. “It will also bring all their equipment here, and control of their patents and licenses, etc,” he said.
The expansion of SuperATV would involve the plant at 2753 Michigan Road, with a new 120,000 square foot production/warehousing/logistics facility next to that building. Flint said the new facility could be completed by next year, but the first quarter of 2023 is more likely.
In addition to that expansion, another 100,000-square-foot expansion is being considered but may be delayed “due to the nature of steel costs and construction,” said Flint.
He said there are also plans for additional development at the 1200 Clifty Drive Armor Plastics facility including an Innovation Center to develop new product lines, do quality control analyses, and product testing.
The resolution approved by the Redevelopment Commission will amend a declaratory resolution to remove parcels from the North Madison Economic Development Allocation Area and the City of Madison Northwest Allocation Area to create a SuperATV allocation area within the North Madison Economic Development Area and amend the Economic Development Plan.
Basically, the resolution moves forward a process for creating two TIF (Tax Increment Financing) areas in which the City Council will vote to adopt a bond ordinance in December. The next step in the process will be to seek approval of the resolution from the Plan Commission at its Nov. 8 meeting.
“This is very exciting,” said Commission chairman John Grote. “It’s great the company is making the investment in Madison, and chosen Madison to continue to expand.”
“Our workforce and destination development plans are very ambitious and transformative. I’m very grateful for all the collaboration between the city, our redevelopment commission and SuperATV in taking the first step in the process to bring significant investment and jobs to our community,” said Courtney.
In other business, the MRC:
• Approved a subdivision plan on 12 acres of land the Redevelopment Commission owns on the west side of Shun Pike that’s part of the Madison Industrial Park. “We get inquiries about smaller parcels,” said Courtney, who noted the plan is to subdivide the acreage into four parcels ranging between two and four acres.
Courtney said the next step is to go before the Plan Commission to create the subdivision and to record the revised plat. Those parcels can then begin being offered for sale individually. The city would establish perimeters for what type of businesses would go there.
Board member Joe Craig agreed with the proposal to divide the property into smaller parcels. “It’s easier to have it finished, it’s probably easier to have it marketed that way,” her said.
• Courtney reported that the city is in the process of planning how to spend $2.4 million in American Rescue Plan funds.
“A lot of it is going to be dedicated to stormwater infrastructure” since two flash flooding events have occurred in the city in the last six years, said Courtney, adding the city is also working through a rate analysis on an estimated $15 million drinking water infrastructure project.
• Courtney reported that work on a downtown parking study is being done this week with plans to have that completed by the end of November. “That will provide some really useful information for us from a policy perspective of where we need to invest and how much we should invest in parking,” he said, adding there are parking constraints in downtown Madison and they are working to determine how best to manage the parking.
• Negotiations continue on bringing a grocery to downtown Madison. Courtney said about six prospects have been identified and a new marketing package is being prepared to attract potential grocery store operators. “That still is our number one downtown Madison priority. It is a key ingredient with our Destination Madison development plan” that was part of what the Our Southern Indiana Regional Development Authority submitted in its application for the READI (Regional Economic Acceleration Development Initiative) grant. Courtney is hopeful the city will receive funding through the READI program, which if allocated to the region “will help us to hone in on our development strategies for the next few years.”
• Courtney said recruitment continues for a new Economic Development executive director. “We have the job posting out on several economic development-related platforms. We will keep you posted as those resumes come in,” he said.