Canadian-based Exo-s Invests $6.8 Million To Relocate Manufacturing To Howe, Indiana
Area Development Online News Desk (10/09/2013)
Exo-s, a fully integrated supplier of global engineered injection and blow molded thermoplastic systems for the automotive and specialty markets, will relocate its manufacturing operations in Three Rivers, Michigan, and machine and tool shop in Centerville, Michigan to Howe, Indiana.
The Canadian-based company is renovating an existing building in Howe that was formerly an automotive component stamping plant. The Quebec-headquartered firm, which supplies HVAC duct, engine covers and related products to the automotive industry, will invest $6.8 million to move its manufacturing to a 191,000 square-foot facility in LaGrange County, creating 250 jobs.
"The move will allow Exo-s to accommodate planned expansion of operations to support increased customer demand for our high quality products, while holding the line on cost," said Todd Fowler, plant manager at Exo-s' Three Rivers location. "Representatives of the local and state government, and the local business community partnered with Exo-s to present an offer that is perfectly aligned to our company's future plans."
"Exo-s is a great fit for LaGrange County," said Keith Gillenwater, President and CEO of the LaGrange County Economic Development Corporation. "It supports several regional companies and further diversifies our local industrial base. We are pleased to welcome them to our community."
The project originated as a lead with the Northeast Indiana Regional Partnership before the LaGrange County EDC took over talks with Exo-s. "This is an excellent example of how collaboration in the region leads to wins," said Dale Buuck, Vice President of Business Development of the Northeast Indiana Regional Partnership. "Exo-s found a suitable location in LaGrange County to not only combine two current operations, but that also allows for future growth."
The Indiana Economic Development Corporation offered Exo-s US, LLC up to $2.75 million in conditional tax credits and up to $225,000 in training grants based on the company's job creation plans. These incentives are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. LaGrange County will consider additional tax abatement at the request of the LaGrange County Economic Development Corporation.