Two Noblesville companies plan expansion into new homes; city set to approve tax breaks

Two home-grown Noblesville companies are expanding and will become new neighbors.

WoodTurningz, Inc. and Texon Towel and Supply Company will each build 52,500 square-foot headquarters on an undeveloped lot at on the 154000 Endeavor Drive east of State Road 37.

The companies are currently located near one another at the Stony Creek Industrial Park. Each will invest about $5.5 million in the new buildings and both will get eight-year tax abatements that start at 90% in the first year and 85% in the last.

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The tax breaks were introduced to the City Council on Nov. 23 and were expected to be voted on at a future council public hearing.

“We are excited to see two of Noblesville’s own expand with this new investment and jobs commitment within our community,” Mayor Chris Jensen said in a written statement. “As new investment continues to occur in Noblesville, working closely with companies that are already here is critical to ensure they have the best opportunity to thrive.”

WoodTurningz, with 10 employees, makes pen kits, turning tools and woodworking accessories for retail and wholesale customers worldwide. The business, founded in 2002, expects to grow by 20 employees in the next 10 years and is outgrowing its current space.

Texon Towel and Supply Company began in 1976 and provides towels and related supplies to professional, collegiate, and high school athletic departments, as well as YMCAs, health clubs and public recreation facilities.

The businesses plan to break ground in March 2022 with completion expected by early 2023.

Call IndyStar reporter John Tuohy at 317-444-6418. Email at john.tuohy@indystar.com and follow on Twitter and Facebook.

This article originally appeared on Indianapolis Star: Two Noblesville companies planning expansions with tax breaks