1990-03-07 Minutes - Laserfiche WebLink

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The expansion of the economic base during the last five years can be attributed, in part, to public/private cooperation in the attraction of new business and the development of four • industrial parks. Total employment in the industrial parks is 4,741 with an annual payroll of $114.2 million. In addition to the industrial developments, the South Bend area has added a variety of other new developments such as health care facilities, shopping centers, hotels and condominiums, and office buildings. The following provides a sampling from a recent listing of new developments provided by the South Bend/Mishawaka Chamber of Commerce. I N Tek, a $400 million cold-rolling steel mill, is a joint venture between .Inland Steel and Nippon Steel Co. of Japan, the world's largest steel manufacturing company. This plant is scheduled to go into production in 1990 with 230 permanent employees. I N Kote was formally announced by Inland Steel and Nippon Steel to be built adjacent to the I/N Tek plant. The $450 million addition will add two zinc coating lines for producing the coated steel needed by automobile and appliance manufacturers. Construction started in September 1989, with completion planned for the end of 1991. Estimates put employment at 170 people bringing the total number of workers to 400 at the two plants. These plants represent a total investment of $900 million, the largest single-building project in the history of St. Joseph County. _ McGladrey & Pullen office building construction began along the East Race Waterway in South Bend. Designed by Troyer Group, the $2.5 million, two-story, 25,000 square foot building will be owned by a partnership of principals from Holladay Corporation. The accounting firm will lease about 55% of the space to accommodate recent growth and to house computer and telecommunications equipment. Completion of the structure is expected by November of 1990. • Pointe at St. Joseph, a luxury apartment complex, is being constructed on the 7.5 acre triangular area where the St. Joseph River and the East Race Waterway join in downtown South Bend. The $11.5 million project will contain 202 one- and two-bedroom apartments. Also featured will be exercise and party rooms, tennis courts, outdoor pool and heated underground parking. Can-American Corporation of Minneapolis, the developer, estimates the entire project will be completed in 1990. National Center for Senior Living is being developed by the North Central Indiana Medical Foundation on a 146-acre site. The $100 million center designed for senior citizens will include housing, medical research centers, offices, recreational facilities, and light assembly factories. The first project to be completed was the Magnetic Resonance Imaging Center. A $1 million, three-year federal grant was recently awarded for the construction of a research branch for the Center. Universal Health Services, Inc., of King of Prussia, PA, held groundbreaking ceremonies on a 10-acre site for Knollcrest Hospital, an 80-bed psychiatric hospital estimated to cost $5 million to be constructed in the National Center for Senior Living. University of Notre Dame has announced five major construction projects that will form two new landscaped quadrangles to the campus ground, plus two other projects. The total cost will be approximately $50 million. AM General (LTV Corporation) occupies the new $3.3 million, three-story, 36,750 square foot office building built by Holladay Corporation on the East Race Waterway. Having signed a 10- year lease-agreement, the building will serve as headquarters for all AM Generaf operations which include production of HUMMERS (military vehicles) and a service parts operation in Mishawaka, and a vital parts fabrication operation in Indianapolis. The firm will bring about 150 jobs to the downtown South Bend area. • -19-