By Emily Ketterer | Daily Journal
For The Republic
COLUMBUS, Ind. — Cummins will now have complete control of its plans and up to five years to bring an information technology and digital hub to Greenwood, after the city and company terminated a more-than-year-old project agreement.
Columbus-based Cummins will buy 31 acres of land located at the southeast corner of Interstate 65 and County Line Road for $4.5 million from the City of Greenwood, part of a new agreement between the city and company.
The Greenwood Redevelopment Commission unanimously approved that agreement, including the sale of the 31 acres to Cummins, during a special meeting Thursday morning.
This land is intended to be used for a 100,000-square-foot information technology and digital hub that Cummins announced it would build in May 2019.
Initially, Cummins and Greenwood entered into a project agreement in which the city offered to pay taxpayer-funded incentives totaling more than $10 million.
Greenwood had already purchased the 85-acre property southeast of the highway for $7.7 million, and intended to sell 31 acres to Cummins for a mere $10, essentially giving it to them. The land the company intends to build on is valued at $5 million, according to city documents.
Per the now-terminated project agreement, Cummins was expected to start construction by June this year, but the pandemic changed the project’s course, and it was put on hold for months.
For more on this story, see Friday’s Republic.
