The August 17, 2017 ground breaking for HMD Trucking’s new headquarters
Gary still waiting on HMD Trucking
Contributed By:The 411 News
Company seeks financing to construct new headquarters
Nothing much has changed at 1350 Texas Street in Gary since last year’s groundbreaking for the new corporate headquarters for HMD Trucking. And just when construction will begin remains unknown, according to city officials.
Gary Mayor Karen Freeman-Wilson said HMD “is seeking financing and they are hiring.” Her Director of Redevelopment Joseph Van Dyk said HMD is applying for New Market Tax Credits, “otherwise it will have to come out of their pockets.”
Along with selecting Gary to be home for their new 35,000 sq. ft. headquarters, the Illinois-based company promised 500 new jobs by 2021.
New Market Tax Credits are designed to attract private investment to low-income communities. In exchange, the investor receives a tax credit on their federal income tax. The credit can equal up to 39 percent of the original investment amount and is claimed over a period of seven years.
HMD, which is currently located in Chicago Ridge and hauls freight across the U.S., said it would invest nearly $6 million to expand its trucking operations to the 11-acre site near United Steel Workers' McBride Hall.
The planned state-of-the-art facility will include a 9,000-square-foot office building for its administrative team and a 26,000-square-foot space for truck and trailer maintenance, repair and warehouse. HMD said it will maintain a warehouse distribution center in Illinois. It had plans to complete construction and move into its new facility in 2018.
The Indiana Economic Development Corporation offered HMD Trucking up to $2,950,000 million in conditional tax credits and $75,000 in training grants based on the company's job creation plans. These incentives are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives.
(L-R) GARY CITY COUNCIL MEMBERS LINDA BARNES-CALDWELL AND RON BREWER, MAYOR FREEMAN-WILSON, INDIANA GOV. ERIC HOLCOMB, HMD OWNERS HENRY AND DAIYA MALUKAS, AND KAREN LAUERMAN, LAKE COUNTY ECONOMIC ALLIANCE PRESIDENT
Story Posted:07/29/2018
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