FRANKLIN, Ind. — The City of Franklin Redevelopment Commission approved Resolution 2026-18 during its meeting on Tuesday, September 15, allocating an $80,000 grant to assist Hobson Tool & Machine with major building repairs and upgrades.
The grant will fund structural, electrical, and facility rehabilitation at 225 Industrial Drive, a property that has stood vacant for over a year following its previous use as a water filtration facility.
Rather than utilizing a traditional real property tax abatement, city leaders opted for an upfront reimbursable cash incentive structured through the Franklin Development Corporation (FDC). Economic development software introduced earlier this year by consultant Adam Stone determined that an upfront grant offered a faster return on investment for the city while helping the long-standing local manufacturer move into and renovate the space without multi-year delays.
Hobson Tool & Machine, a local family-owned business whose workforce largely resides within Franklin, sought expansion options after outgrowing its existing facility. The commission unanimously passed the incentive agreement.
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