SuperATV announces $60 million expansion in Madison, Ind., creating 300+ new jobs

LOUISVILLE, Ky. (WDRB) -- A major business expansion in Madison, Indiana, is expected to create hundreds of new jobs.

SuperATV is making a $60 million investment in the expansion. It will create 315 new jobs and generate $17 million in annual payroll.

The expansion is expected to be complete by 2023.

SuperATV worked with the city to create a new TIF, or "Tax Increment Filing" allocation area. TIF financing is a means for cities to invest in urban development by allocating future property tax increases to economic development projects.

The company's investment is expected to generate $1.5 million for the city, which would be reinvested in the community over the next 10 years.

"This financial commitment is truly transformational for our city as we work towards growing Madison and our workforce," Mayor Bob Courtney said in a statement. "The city is grateful is SuperATV for their investment and for working with the Redevelopment Commission and the city to create high paying jobs in our vibrant community. We are excited to see this growth in Madison and look forward to the great things to come."

The project is expected to be complete in two phases. Phase One is expected to be complete in 2023 and will include a 125,000-square-foot expansion of the existing production, logistics and warehousing facility.

"SuperATV is proud to call Madison home," SuperATV President Lindsay Hunt said in a statement. "We are thankful to the Redevelopment Commission and the City of Madison for their continued support, which has allowed us to grow and give back to the community."