LAFAYETTE, Ind. (WLFI) - A company building new warehouse space in Lafayette is getting a tax abatement. It was approved on Thursday at the April Lafayette Redevelopment Commission meeting.
LB Associates LLC, Real Property is the company. They are currently working on a 100,000 square-foot warehouse.
It's on about 50 acres of land on Haggerty Lane between Veterans Memorial Parkway and State Road 38. Tyler Brand from LB Associates said they are responding to a need in the city for more storage space.
"You have SIA, you have several other companies that need to store things, they need warehouse space," he said. "Our service allows them to get that space relatively quick."
Economic Development Director Dennis Carson said that the city has had to turn opportunities away because of the current lack of warehouse space in the area.
Brand said they are already seeing success with their three existing warehouses.
"The area is currently 100% occupied with the three buildings, so we are going to continue to develop that," he said. "We are very bullish on the demand for warehouse space in this area," he said.
Brand said they hope to have 400 to 500,000 square-feet of warehouse space by the time the area is fully developed.