Mayco International Invests $2.88 Million To Expand Its Manufacturing Center In Hartford City, Indiana
Area Development Online News Desk (12/12/2013)
Mayco International, a designer and manufacturer of interior and exterior automotive parts and systems, will invest $2.88 million to expand its Hartford City, Indiana, operations center, creating up to 120 new jobs by 2016.
The company will renovate and increase capacity at its 110,000 square-foot facility located at 1701 W. McDonald Street in Hartford City. The facility improvements, with new equipment slated to be operational by February, will allow the company to fulfill increased client orders for automotive sunshades and other lightweight systems.
Mayco and its affiliates design, engineer, tool and manufacture products for original equipment manufacturers and other tier 1 automotive suppliers. Specializing in the development and manufacturing of automotive parts for interior trim applications in Hartford City, the location aims to begin producing more light weight products for automotive applications.
"Indiana, home of a world class workforce, has been a very user-friendly state with which to work," said Nick DeMiro, President of Mayco. "We have had many strategic discussions with the IEDC over the years, and I am proud that we are now able to grow our business in our Hartford City facility. This is great news for our people as well as for the community."
"When global companies like Mayco consider where to locate new jobs, they have a world of options," said Gov. Mike Pence. "Yet, those choices continue to lead them right back to Indiana. Through sound fiscal stewardship, Indiana has built a business climate that supports growth. From our talented workforce to low taxes, there's a reason why Indiana is a state that works."
As an incentive, Indiana Economic Development Corporation offered Mayco International, LLC up to $880,000 in conditional tax credits and up to $80,000 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. Hartford City approved additional incentives at the request of the Blackford County Economic Development Corporation.
"Hartford City is proud to be part of Mayco's global strategy," said Hartford City Mayor Ben Hodgin. "The company's investment in real estate and equipment shows a strong long-term commitment to the Hartford City plant. We applaud Mayco's expansion as another example of companies succeeding and growing in Hartford City."