Marion approves Esco Electric development deal with up to $2.5 million TIF rebate

The Marion City Council on Nov. 20 approved a development agreement with Esco Electric that will allow the company to build an office and a prefabrication and logistics warehouse at 6260 North Gateway Drive in the Marion Enterprise Center. City staff said the agreement includes a 12‑year, 100% tax‑increment financing (TIF) rebate not to exceed $2,500,000 and a developer minimum assessed value of $7,600,000.

Leanne, a city staff presenter, told the council the project’s construction is slated for completion by Dec. 31, 2026, and that Esco will expand its footprint while keeping offices adjacent to Tower Terrace. The public hearing produced no in‑person or written comments, Leanne said.

A council member asked whether the project would expand Esco’s footprint while maintaining its offices near Tower Terrace; an Esco representative confirmed that arrangement. The council moved and seconded approval of resolution 32,644 and the motion carried by voice vote; the record shows an abstention by the mayor following the vote.

The agreement’s economic incentives are structured as a time‑limited rebate of incremental tax revenue and a minimum assessment that the company agreed to maintain for the rebate term. City staff said the terms are intended to support local job‑creating investment while protecting the city’s revenue expectations.

Council members signaled support for the project during the brief discussion; no public opposition was recorded. The city clerk recorded the resolution as approved and returned the meeting to the mayor afterward.