The City of Noblesville announced July 6 it has reached $1 billion in private committed capital investment in the city since the start of 2020.
“This is a major milestone that shows the commitment of this administration and our common council’s dedication to the future of Noblesville,” Mayor Chris Jensen stated. “We had big plans coming into this administration and we didn’t let the pandemic slow us down. We had to make a choice in 2020 and we chose to bet on Noblesville, and it is paying off.”
Jensen’s administration set a strategy for advancing Noblesville that developers and businesses alike were drawn to. Jensen said the strategy balanced the line between growth and preservation.
“We are the 10th-largest city in the state and growing at a rapid pace,” Jensen said. “We knew we needed to accommodate the growing need for housing and businesses looking to construct new buildings or relocate, at the same time preserving and enhancing our historic downtown. This total investment has been strategic to keep up with market demand, while maintaining our authenticity.”
The top four investment projects are downtown projects, such as Nexus, Village at Federal Hill, East Bank and Lofts on Tenth, totaling $145.6 million; Hyde Park totaling $142 million; Washington Business Park totaling $135 million and River West totaling $118 million.
In addition to new development, Curium Pharma, BlueSky Commerce and Noble Industries, all Noblesville companies, chose to expand their business operations since 2020. These companies and others within the city’s targeted industries have contributed over $78 million in private investment through business expansions.
Projects such as Washington Business Park at Ind. 37 and 146th Street give businesses ready-to-use industrial and flex spaces to occupy. Washington Business Park consists of 142 acres and more than 1 million square feet of build-to-suit space. More than half of the space has already been claimed. The project expects to generate more than 500 jobs.
The $1 billion in private capital investment does not include investments being made in local infrastructure across the city or the extension of sanitary sewer lines to reach new locations.
“These major investments in our community make Noblesville even more attractive to individuals and companies looking to relocate and grow,” Noblesville Community Development Director Sarah Reed stated. “Ultimately, it is about attracting the right jobs to Noblesville and having a response to the demand and importance of speed to market sites, facility options and housing options under our current environment.”
For more about ongoing projects, visit cityofnoblesville.org/projects.