Fort Recovery Industries, a maker of aluminum and zinc die cast hardware, has selected Portland, Indiana, for a new manufacturing plant that will create up to 40 jobs by 2013. The company will invest $4.5 million to purchase and outfit an existing 50,000-square-foot facility.
"Through the efforts of the entire Fort Recovery Industries team our business has grown," said Dean Jetter, COO of Fort Recovery Industries. "We are grateful for growth with our existing customers and new business with new customers. We are adding additional capacity to supply our customers' needs. The spec building in the Industrial Park in Portland is a good choice for us for a number of reasons including the support we received from Portland, Jay County, and the state of Indiana which all provide a good environment in which to have a manufacturing operation."
The Indiana Economic Development Corporation has extended Fort Recovery Industries up to $275,000 in performance-based tax credits. The Indiana Office of Community and Rural Affairs will consider a request for up to $100,000 in Community Development Block Grant funds towards equipment. The city of Portland has preliminarily approved additional property tax abatement at the request of the Jay County Development Corporation.
Fort Recovery Industries was founded in Fort Recovery, Ohio, in 1945 and today casts more than 14 million pounds of aluminum and zinc each year for clients in the appliance, automotive, commercial refrigeration, office furniture, and builders hardware industries.