By: Delaware County Economic Development—
Daleville, IN – More jobs. More capital investment. In the pandemic era, growth-oriented announcements are few and far between. But Delaware County, Indiana, officials have announced another economic development venture.
And it is one that comes at no risk to local taxpayers.
Delaware County officials’ winning streak continues with the announcement that Balance Holdings Inc. (BHI) is acquiring 33 acres at I-69 and SR 67 for development of a new 100,000-square-foot headquarters and demonstration greenhouse.
BHI plans to invest $18 million in new buildings and equipment at the location. To date, BHI has already hired 34 people in Delaware County and have plans to hire more than 120 employees within the next 18 months. To see through the development of the project, BHI has leased two temporary office complexes at 3701-3705 N Briarwood Lane and 3525 Purdue Ave. in Muncie.
The facility will specifically be for the continued development, design, and assembly of its patented ECSIA® system. ECSIA® is Environmentally Controlled Sustainably Integrated Agriculture (ECSIA®), Commercial Regenerative Agriculture (CRA) technology that grows nutrient-dense fruits, vegetables, and herbs as prescription-grade foods.
The project is financially backed by Capital Gains Corp. of Palm Harbor, Florida.
“We’re really excited to be working with BHI on the development of their facility,” Delaware County Commissioner James King said. “BHI’s team has been incredibly forthcoming with their plans and entrepreneurial spirit to continue business expansions that grow the local tax base and develop the site.”
Delaware County’s Director of Economic Affairs, Brad Bookout, worked with BHI to help position the project for development. Bookout said, “Being community minded, BHI does not want to put the County at any risk. BHI’s strong financial position makes this a project that any community would love to work with. We’re really excited to have such a strong partner willing to make this level of investment in Delaware County.”
Pending municipal approvals, the County is assisting with a bond issuance for the project. Funding for the $2 million issuance is 100% provided upfront by BHI and is repayable from tax revenue generated exclusively from the buildings BHI plans to construct. No existing taxpayer funds or taxpayer back up are necessary for the project.
The ECSIA® system was developed in 2010 by founder Glynn Barber (CEO of BHI). After multiple trials, Barber perfected the system and began marketing it to schools, nonprofits, hospitals, community organizations and others. Seeing the potential for use by hundreds of organizations throughout the world, Capital Gains Corp. sought partnership with Barber to take the system to production and market it nationally through BHI.
BHI plans to commence construction on the Delaware County facility in the fall of 2020. Other out lots will be for sale within the development. Currently, two other companies are considering potentially co-locating adjacent to the BHI facility in Daleville.
President and Chief Operating Officer, Peter Florio from BHI stated, “We’re following through with an aggressive ramp-up of the ECSIA® system for full-scale production in Daleville. The location is incredible for what we plan to do and the assistance from the County has been second to none.”
For more information about Balance Holdings, visit www.FARMacy.us or call 833-GO-ECSIA.
About Delaware County Economic Development
In 2015 the Delaware County Commissioners privatized the County’s economic development activities. Since that time, the County has developed its own business retention and expansion programs that are in constant contact with the multitude of industry within the County. In addition, efforts to identify and attract various suitable industry throughout the world are undertaken on an annual basis. For more information, contact Brad Bookout at bbookout@augustaconsultingllc.com.
