A manufacturer of tube and sheet metal fabrications for the aerospace industry, L&E Engineering Company, will invest $3.7 million to expand its Greenwood, Indiana operations center, creating up to 52 new jobs by 2016. L&E Engineering, which currently has 54 full-time employees, plans to begin hiring new manufacturing, administrative and engineering associates later this year.
The company, which produces sheet metal and tube fabrications for aerospace and industrial gas turbine engines, is a subsidiary of Franklin, Ohio-based Ferco Aerospace Group. The firm plans to add equipment and almost double the size of its existing 23,000 square-foot facility at 254 North Graham Road in Greenwood. As part of the expansion, which is slated to be complete by the summer of 2014, the company will install additional tube manufacturing operations.
“We have a very active group of dedicated, highly-skilled people working for us here in Greenwood,” said Greg Sandberg, president of L&E Engineering. “Paired with excellent cooperation coming from local and state officials, it was clear that Indiana was the place to grow our operations.”
“Because of companies like L&E Engineering, Indiana lead the nation in manufacturing job growth,” said Eric Doden, president of the Indiana Economic Development Corporation. “This is a testament to our knowledgeable and industrious workforce, low-tax environment and robust infrastructure. When it’s time to build something, Hoosiers continue step up and grow our economy.”
As an incentive the Indiana Economic Development Corporation offered L&E Engineering Company up to $400,000 in conditional tax credits and up to $50,000 in training grants based on the company’s job creation plans. These tax credits are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. In addition, the city of Greenwood will consider additional tax abatement at the request of the Johnson County Development Corporation.