PROFESSIONAL_SERVICESAPPROVED

Noblesville Redevelopment Commission AgendaPacket BioLife Solutions Project 2026-06-11

Sexton Biotechnologies Gets Incentives for Noblesville Project

$1,000,000 forgivable loan; $5,000,000 personal property investment; $16,000,000 total project investmentNoblesville Housing AuthoritySEXTON BIOTECHNOLOGIES INCJune 11, 2026

Trusted by teams at

Description

Noblesville RDC approved an Economic Development Agreement with Sexton Biotechnologies, Inc., including a $1 million forgivable loan and a 10-year personal property tax abatement for biomanufacturing jobs and investment.

Contract Details

Contract Amount

$1,000,000 forgivable loan; $5,000,000 personal property investment; $16,000,000 total project investment

Vendor

SEXTON BIOTECHNOLOGIES INC

Agency

Noblesville Housing Authority, IN

Contract Type

PROFESSIONAL_SERVICES

Document Date

June 11, 2026

Contract Term

Forgivable loan: 7 years (2026–2033, forgiveness if conditions met); Personal property tax abatement: 10 years (Years 1-3: 90%, 4-6: 80%, 7-10: 70%); project completion by Dec 31, 2028; employment must be maintained for 5 years after 2028; tax covenant 15 years from agreement

Renewal Date

2036-06-11

Renewal Info

Personal property tax abatement is for 10 years. Forgivable loan is forgiven if job and investment conditions are met after 5 years of operations commencing Jan 1, 2028; loan due immediately if terms not met. Tax covenant runs 15 years from agreement.

Issuing Agency