Redeveloped Gilman Street ushers in new Allison WaySRC Member
FOR IMMEDIATE RELEASE
Sept. 30, 2011
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Redeveloped Gilman Street ushers in new Allison Way
Speedway Redevelopment Commission, Allison Transmission announce street name with project completion
SPEEDWAY, Ind. – Speedway Redevelopment Commission (SRC) and Allison Transmission Inc.’s leadership celebrated the completion of yet another redevelopment project in Speedway, Ind., on Sept. 30 with the announcement of a new street name in Speedway – Allison Way.
Allison Way, which is a north-south corridor that connects Gilman Street to 10th Street east of Main Street, is in recognition of the corporation’s global headquarters that has invested millions in Speedway’s economy as well as to company founder James Allison.
One of the original four founders of the Indianapolis Motor Speedway, James Allison envisioned Speedway as a thriving community built upon the town’s unique history through motorsports.
“We have always appreciated the support that the Town of Speedway and the SRC has given Allison Transmission, and we’re honored and proud to know that James Allison’s legacy will be further engrained in the Town that he so loved,” said Lawrence E. Dewey, Allison Transmission chairman and CEO.
Allison Transmission also plans to change its street address from 4700 W. 10th St. to One Allison Way early in 2012.
The announcement coincides with the completion of the $4.4 million Gilman Infrastructure Project, for which the SRC transitioned 30 acres of commission-owned property on the east side of Main Street into multiple shovel-ready development sites to help attract interested developers and businesses. The project also allowed for the installation of new storm, sanitary and water systems on the property and an enlarged storm water drainage culvert below 10th Street, east of Polco Street.
“The fact that these sites are beyond shovel ready – they are truly development ready – is very exciting and attractive to businesses that are looking for prime property in Speedway that can be used immediately,” said Vince Noblet, SRC president. “We celebrate this announcement as part of our redevelopment vision not only for business development but also to recognize Allison Transmission’s strong, decades-long support of our community.”
During this process, new intersections were constructed for the 10th Street Realignment Project, which kicked off in April 2011 and is expected to complete in November 2012. The 10th Street Realignment Project will redirect 10th Street from Main Street to Holt Road, near Allison Transmission’s global headquarters in Speedway.
The project allows for Allison Transmission to expand its Speedway facility, ultimately leading to more jobs and an expanded product line.
“Look at all the amazing progress we’ve been able to make since April,” Dewey said. “The opening of Allison Way is another step in our plan to grow our operations in Speedway, including creating up to 205 new jobs through 2013.”
About Allison Transmission
Allison Transmission Inc. is the world’s largest manufacturer of fully automatic transmissions for medium- and heavy-duty commercial vehicles, medium- and heavy-tactical U.S. military vehicles and hybrid-propulsion systems for transit buses. Allison products are specified by more than 300 of the world’s leading vehicle manufacturers and are used in many market sectors including bus, refuse, fire, construction, distribution, military and specialty applications. Founded in 1915, the Allison business is headquartered in Speedway, Indiana, and employs approximately 2,750 people worldwide. Regional headquarters, with dedicated support staff, are located in China, The Netherlands, Brazil, India, Japan and Hungary. With a global presence in 80 countries, Allison has more than 1,500 independent distributor and dealer locations. More information about Allison is available at www.allisontransmission.com.
About Speedway Redevelopment Commission
The newly completed Main Street project is the first milestone in the town’s Redevelopment Area One and is part of a $500 million investment to breathe new life into 400 acres of multi-use property that will be primed for research and development, commercial, shopping, entertainment and residential projects. Made possible through private and public investment, the redevelopment zone will be a vibrant, thriving and attractive downtown that will foster growth within the existing business community and encourage development of new business. SRC consists of five volunteers appointed by the Speedway Town Council. Using input from the entire community, the commission is charged with developing a plan to revitalize a 700-acre area, including Speedway’s Main Street. More information about the SRC is available at www.speedwayindiana.com.