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Delaware County ponders perch plan
Nick Werner
An Albany fish farm hopes to expand its production, multiply its workforce and improve the environment with help from local government.
Bell Aquaculture is working with planning and economic development officials to establish a tax-increment financing district (TIF) at their 135-acre facility outside Albany.
In a designated TIF district, property taxes generated from new construction in the district can be set aside and invested back into
the district instead of going to the normal taxing units.
Income from the proposed TIF district would support improvements
to surrounding roadways and the expansion of Bell production
facilities, both of which are necessary to achieve the company's
production goal of 9 million pounds of yellow perch per year,
according to a development plan prepared by the Delaware Muncie
Metropolitan Plan Commission.
Bell currently produces about 100,000 pounds of yellow perch per
year.
Under the development plan, Bell would also grow its Albany work
force from 16 to 70 workers.
Marta Moody, director of the city-county planning commission, said
Bell workers make about $11 an hour.
"The wage is not high," she said. "But it's high for farm workers."
The development plan did not forecast when Bell Aquaculture would
reach peak employment and peak production.
TIF money would also be used to establish "green infrastructure,"
such as wetlands and filtering areas for improving the environment.
Bell Aquaculture moved to Albany in 2007 and has become the
largest producer of farm-raised yellow perch in the country.
Commission member Bruce Baldwin said he believed Bell had already
invested about $25 million at their Albany. Property taxes from
existing facilities would continue to go back to local government as
TIF districts only capture taxes from new development.
Efforts to reach Bell for comment were unsuccessful.
Muncie and Delaware County are home to seven TIF districts.
Establishing a TIF district for Bell would require approval from the
Delaware County Redevelopment Commission, the Delaware County
Commissioners and Delaware County Council.
The TIF plan is still in early planning phases.
The Redevelopment Commission discussed the possibility of a Bell
TIF at their Thursday meeting but took no action.
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