Mossberg Industries, a wholly owned subsidiary of Khorporate Holdings and a manufacturer of injection-molded plastic spools and reels, will invest $2.9 million to construct and equip a 45,000-square-foot addition to its current facility located at 204 N. Second St in Garrett, Dekalb County, Indiana.
The company supplies customers in the packaging, industrial and logistics sector with plastic spools and reels for the wire, cable, hose, tubing, tapes, rope and textile industries.
Construction of the new addition has already begun with the expanded facility slated to be fully operational at the end of the year. The firm is already hiring additional engineering and production associates with initial plans to add 15 employees to its staff of 50.
"We're delighted that companies like Mossberg are continually finding Indiana as the most prosperous location for business," said Dan Hasler, Secretary of Commerce and chief executive officer of the Indiana Economic Development Corporation. "With our low-taxes and nationally acclaimed business climate, Indiana helps firms achieve sustainable, long-lasting growth."
"We are very excited to be expanding our operations in Garrett," said Jim Khorshid, general manager of Mossberg. "We have a long history in the community and hope we can help the area grow. We have a wonderful group of employees who have worked hard to develop the great reputation that Mossberg has with our customers and our community."
As an incentive to facilitate expansion, the Indiana Economic Development Corporation offered Mossberg Industries, Inc. up to $60,000 in conditional tax credits and up to $19,000 in training grants based on the company's job creation plans. The city of Garrett also approved additional property tax abatement at the request of the DeKalb County Economic Development Partnership, Inc.
"We are excited to partner with Mossberg Industries," said Garrett Mayor Tonya Hoeffel. "My administration and City Council members have sent a clear message to industries interested in improvements or locating in Garrett, that we are committed to retaining and bringing jobs to our community."