A dermatology and skin care practice is requesting a tax break to consolidate two of its offices into a single Greenwood location.
Indianapolis-based Dermatology Inc. has requested a 10-year tax break from the Greenwood City Council to refurbish part of a building and to construct a 5,500-square-foot expansion for a medical and office facility at 1150 South Park Drive near Main Street and Interstate 65, according to a tax abatement application filed by the company. Dermatology Inc. has a corporate office in Indianapolis and 11 offices throughout the region, including one in Greenwood.
The new office would consolidate two existing locations on the north side of Indianapolis and on County Line Road in Greenwood. Company officials expect a total of 56 employees will work at the new office, according to paperwork filed with the city.
The move would retain 30 employees from Dermatology Inc.’s Greenwood location. Another 26 employees from the company’s Indianapolis headquarters also will move to the facility. The employees have average salaries between $41,700 and $118,000, the application said.
Dermatology Inc. has purchased a condo unit at 1150 South Park Drive as well as an acre of land west of the building for about $2 million. The Indiana Church of God is the tenant in the other half of the building, while the remainder is vacant and has been since the building was constructed in 2008.
The building initially was constructed on a speculative basis. The interior of the unoccupied half is unfinished, and it still has a dirt floor, Greenwood City Council member Mike Campbell said.
Dermatology Inc. has told the city it plans to begin construction in March and complete the work by the end of 2017. Employees will move into the facility sometime in 2018, Campbell said.
Campbell described the project as the type the city is looking to provide tax breaks for, bringing more high-paying jobs to Greenwood.
“I think it is good for everybody,” he said. “It’s the kind of business we like to find and keep.”
The tax break is solely for the construction of the new medical facility, which will cost $690,000, the application said. The company will pay $242,000 in property taxes during that timeframe, and would save $101,000, the application said.
Council members have not yet voted on the proposal, which would require two approvals. The Greenwood Redevelopment Commission has already approved the request.