Noblesville’s city council has approved a joint replacement center at Innovation Mile economic development agreement.
With a $28 million investment, Indiana Joint Replacement Institute intends to construct a 35,000-square-foot ambulatory surgery center and medical office building specifically for hip and knee joint replacements. On 6.5 acres now owned by the city at the southeast corner of Olio Road, the facility will be built.
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The corporation intends to commit to 52 new employees by 2024 under the authorized economic development pact. They will receive an average annual compensation of $125,000. Also provided is a 10-year personal property tax abatement. This is available for up to $5 million of the investment made by the Company.
The city also intends to cover the costs of engineering and building a pedestrian walkway that will link the project to the Innovation Mile development. The corporation would buy the land for $1 at the same time. Speaking to the Noblesville Common Council on the proposal, Dr. Michael Meneghini expressed his excitement for the neighborhood’s growth.
More on the Innovation Mile replacement center
According to city documents, the proposed development will have two storeys and four operating rooms. Additionally, there will be the capacity to expand.
There are 16 pre- and post-operative bays, X-rays, physical therapy, and 20 exam rooms. According to officials, the building will also have specialized research and education space for the corporation to continue its continuing research that it has been doing for the past 15 years.
In documents submitted by the city, corporate representatives stated that “this medical complex will be the epicenter of the Indiana Joint Replacement Institute within the State of Indiana and across the US.” According to Sarah Reed, the city of Noblesville’s director of community and economic development, construction will likely take two years before the facility can be filled.
