At A Glance:
What: Project Falcon – 540,000 sq. ft. Life Sciences Headquarters and Production Facility.
Where: 9290 Corrugated Ave. The west side of the Ronald Reagan Logistics Center, it shares a common border with recently announced HarperCollins Project.
When: Construction Begins in 2026, set to Open in late 2028 or early 2029.
Brownsburg — At the recent Economic Development Commission meeting the public received it’s first exposure to Project Falcon. It’s a new 540,000 square foot head quarters facility which will include administrative offices, lab space and production areas for as yet unnamed life sciences company. It will be located next to the HarperCollins site in the Reagan Logistics Center. The company name will be disclosed at a later time.
Project Highlights:
Project Falcon represents a new headquarters and production facility for a life sciences company with over 60,000 employees world wide, serving the healthcare industry in more than 100 companies.
Town’s economic development team has been working to win this project since March of 2025. The company has selected Brownsburg in August, pending approval of economic incentives, the upcoming meeting schedule is are noted below in this article.
By The Numbers:
• A construction investment of $340M, plus an additional $95M in personal property whose total is $435M in capital investment.
• The relocation of 1,776 jobs to Brownsburg with an average hourly wage of $40.71.
• Creation of 300+ new jobs in the coming years with an average hourly wage of $45.90.
“This 435 mil in investment is more than the town saw from all commercial and industrial projects in 2024” — Deb Cook, Brownsburg Town Manager, Oct. 16th EDC Meeting.
Incentives with a difference:
In the first of its kind for Brownsburg, a portion of TIF monies will be used to pay a a nearly a $81 mil bond purchased in by the company. The maximum term is 25 years and the maximum rate is 7%. This was done at the request of the company in lieu of a property tax abatement. These monies will be separate and apart from the town’s normal tax rolls. All risk is held by the borrower in this case the company.
The monies will be used for construction of the administrative and productions areas of the building, including equipment and related improvements. In the unlikely event the borrower defaults, all TIF monies will be retained by the town. The terms of this agreement were unanimously passed by the Economic Development Commission on Oct 16th.
• “The bond will be purchased by the developer or the company, the town will not be purchasing this bond, we are not on the hook for the payments, nor will we have to pay for any shortfalls. The debt service will be paid for by 75% of the TIF revenues generated by this project”
• “The town will collect the other 25% of TIF to be used for strategic projects”
• “The developer purchased bonds do not interact or impact the tax rate in anyway”
• “The developer assumes all risk with this structure”
— All quotes taken from Deb Cook Brownsburg Town Manager Oct. 16th EDC Meeting.
In addition, the Town of Brownsburg is offering a personal property tax abatement on an estimated $95 million dollars investment, a flat 80% reduction each year for 10 years.
Incentives Approval Timeline:
• Thursday, October 16: The Economic Development Commission (EDC) will hold a public hearing and decide on approving the project report and bond issuance resolution.
• Thursday, October 23: If approved by the EDC, the Town Council will consider the bond ordinance and the personal property tax abatement.
• Tuesday, November 4: The Redevelopment Commission (RDC) will consider the TIF pledge resolution.
• Thursday, November 20: The final step will involve the Town Council making its final decisions on the bond ordinance and personal property tax abatement.
Download Project Falcon Related Materials Here:
2025 10 23 Town Council Materials –
>> Click Here << Resolution #2025-21 – A Declaratory Resolution of the Town Council of the Town of Brownsburg, Hendricks County, Indiana Requesting Approval for Personal Property Tax Deduction/Abatement for the Personal Property Located Generally at Parcel ID #32-08-07-305-002.000-016 (Project Falcon) (Debbie Cook, Town Manager)
Content courtesy of:
Town of Brownsburg
Hendricks County Beacon
The Editor
