Toward that end, Purdue University will establish the Center for Advanced Manufacturing. The center will serve as a resource for existing companies and help attract new companies.
“Advanced manufacturing has been identified as one of the economic sectors with the greatest potential for growth in Indiana,” said Martin C. Jischke, president of Purdue University. “If our state is going to compete in the international marketplace, we must take the necessary steps to remain on the cutting edge of new technologies.”
Accurate Manufactured Products Group, an advanced manufacturing company, is banking on Indiana being the right place to grow.
In June, the company announced that it will move operations from New York and invest more than $700,000 in a 20,000 square foot facility in the Indianapolis metro. The facility will house manufacturing, distribution and headquarters operations.
Accurate Manufactured Products, a manufacturer and distributor of specialty fastening solutions, and machine, measurement and component hardware, will initially employ 20 workers and anticipates creating an additional 30 jobs by 2007.
The Indiana Department of Commerce offered numerous economic incentives, including $20,000 in Skills Enhancement Fund grants, $50,000 in Technology Enhancement Certification for Hoosiers grant funds and $225,000 in Economic Development for a Growing Economy tax credits.
“The business climate and quality of life factors, as well as the support we have received from state and local government, made this the right decision,” said Matt Goldberg, president of Accurate Manufactured Products.
The partnership between state and local officials was instrumental in a Monterey, Mexico-based manufacturing company’s decision to site its first U.S. manufacturing plant in Shelbyville.
Galvamet America Corp., a manufacturer of insulated steel panels for use in large refrigeration structures, will open a plant in a vacant spec building in July.
The company will expand the 50,000 square foot facility by more than 34,000 square feet.
About 40 employees will be hired initially.
The company, which has sales and distribution facilities in Texas, Arizona and Georgia, considered sites in Ohio and Kentucky before deciding on the Indianapolis metro.
The fact that the building was ready for occupancy was a big factor in the decision, said Hector Trevino, who will manage the plant. Plus, the company felt comfortable locating in Shelbyville, which is home to numerous international companies.
The Commerce Department, the Indy Partnership and the Shelby County Development Corp. worked together to bring the project to Shelbyville.
Galvamet will apply to the city of Shelbyville for a tax abatement on the plant’s equipment. The city has already approved a 10-year tax abatement on nearly $3.4 million of real property.
The company is also eligible for incentives from the state, although details still need to be worked out.
Means the article is accessible only to our magazine subscribers.
