A joint venture between Fort Wayne-based Steel Dynamics and Spain-based La Farga Group, SDI La Farga, a copper reclamation and production company, plans to invest nearly $16 million at its facility in New Haven, Indiana. The company is expected to create up to 30 new jobs by the end of 2021.
SDI La Farga currently produces 180 million pounds of finished product per year using one furnace to melt and refine copper. The company plans to add a second furnace to its existing facility at 1640 Ryan Road in New Haven. SDI La Farga, which currently employs 74 people, plans to hire additional production shift and logistical employees by the end of 2021.
“We have had tremendous growth since our inception, which is a testament to our teammates,” SDI La Farga President Kurt Breischaft said. “This expansion will help us better serve our customers in the Midwest, and specifically in Indiana. We'll be able to operate more efficiently, ramp up our production and create more jobs in New Haven, which has been a great place to do business.”
As an incentive, Indiana Economic Development Corporation offered SDI La Farga LLC up to $255,000 in conditional tax credits. These tax credits are performance-based, meaning the company is eligible to claim incentives once Hoosiers are hired. Northeast Indiana Works will provide the company with additional hiring and training assistance. New Haven City Council will consider additional incentives.
"Indiana's fiscally-sound, pro-growth business climate and talented workforce make the state an ideal location for SDI La Farga to expand," said Indiana Secretary of Commerce Jim Schellinger. "We're excited to witness SDI La Farga's continued growth and success in Indiana and remain committed to supporting companies, like SDI La Farga, that are offering quality career opportunities for Hoosiers and investing in our state."
Founded in 2010, with production beginning in New Haven in 2012, SDI La Farga provides high-quality copper products to customers in a variety of industries. The company has an environmentally friendly and efficient process in which it reclaims scrap copper, refines it and produces copper rod and wire.