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Haynes International Invests $23.5 Million On Expansion of Kokomo, Indiana Manufacturing Plant

06/26/2012
A developer, manufacturer and marketer of alloy products, Haynes International, is investing $23.5 million on expansion of its Kokomo, Indiana facility, creating up to 40 high-wage jobs.

The producer of high-performance nickel and cobalt-based alloys will expand the flat product capacity at its manufacturing facility, located at 1020 West Park Avenue, which currently has 780 full-time employees. The firm plans to begin purchasing new machinery and equipment this August.

"The growth of Haynes reaffirms the healthy stability of the Hoosier State's manufacturing industry," said Dan Hasler, Secretary of Commerce and chief executive officer of the Indiana Economic Development Corporation. "Our manufacturing prowess combined with our skilled workforce makes Indiana standout as a leader in production innovation."

During World War II, Haynes supplied 70 percent of all turbine blades used in fighter and bomber aircraft engine superchargers. The century-old company, which also produced parts for the Mercury Space Capsule in the 1960s, operates seven facilities in North America, and eight facilities throughout Europe and Asia.

"This year marks our 100th anniversary in Kokomo and Indiana. It is a milestone that few companies reach," said Mark Comerford, president and chief executive officer of Haynes. "With this investment, we will strengthen our footprint in Indiana and improve our ability to service our customers around the world. That's good news for our employees and our customers."

As an incentive, the Indiana Economic Development Corporation offered Haynes International, Inc. up to $550,000 in conditional tax credits and up to $100,000 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. The city of Kokomo will consider additional property tax abatement.

"Haynes has been a leader in their industry for 100 years in Kokomo," said Jeb Conrad, president and chief executive officer of the Greater Kokomo Economic Development Alliance. "We are excited about their continued commitment to grow and invest in our community."

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